on december 31, 2015, pilozzi company has the following information available: common stock $5 million...
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Accounting
on december 31, 2015, pilozzi company has the following information available:
common stock $5 million
additional paid-in capital $4 million
retained earnings $1 million
cash $1 million
investment in traiding securities $50,000
On december 31, 2017, can the board of directors declare a cash dividend of $2 million. Can it be done?
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