Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. kimm, inc. had net income for 2008 of $2,120,000 a

Kimm, Inc. had net income for 2008 of $2,120,000 and earnings per share on common...

80.2K

Verified Solution

Question

Accounting

Kimm, Inc. had net income for 2008 of $2,120,000 and earnings per share on common stock of $5. Included in the net income was $300,000 of bond interest expense related to its long-term debt. The income tax rate for 2008 was 30%. Dividends on preferred stock were $400,000. The payout ratio on common stock was 25%. What were the dividends on common stock in 2008?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

For each precursor molecule, identify the corresponding class of hormone (catecholamine, eicosanoid, peptide, or steroid) and...

Biology
Q

Acid-Base Balance As the rate of H+ and/or PCO2 production changes in the body, what “system” acts...

Medical Sciences
Q

The helicopter shown in the figure below has a mass of 12 tons and it needs...

Mechanical Engineering
Q

For the corporation you identified in Discussion One, describe the components of the Internal Environment. Identify their...

Operations Management
Q

Presented below is information related to Vienna Company at December 31 2020 the end of...

Basic Math
Q

The 2011 National Youth Risk Behavior Survey provides insight on the physical activity of high...

Basic Math
Q

The accounting equation can be restated as assets - equity = liabilities

Accounting
Q

Exercise 4-19(Static) Wholly Owned Subsidiary with a Differential LO 4-3 Stick Corporation is...

Accounting
Q

What is the cash flow identity (not the statement of cash flow) for Rachael Corporation...

Accounting
Q

Problem 4: Time Allocation with Log-Lin Preferences Robinson has preferences described by the utility function...

Accounting
Q

fint sixilems that came to mind were: (i) (Click the icon to vew the intormation)...

Accounting
Q

5. What are some of the changes after 9/11 that have affected the real estate...

Finance