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ASAP The statement of retained earnings or the statement of stockholders'...

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Accounting

ASAP
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The statement of retained earnings or the statement of stockholders' equily reconciles the net income, dividends paid, and the change in retained earnings during a particular year. Which of the following best describes shareholders' equity? Equity is the initial claim on value of the assets before the firm pays off its llablities. Equity is the difference between the company's assets and liabilities. NoW inc. released its annual results and financial statements, Grace is reading the summary in the business pages of today's paper. In its annual report this year, NOW Inc, reported a net income of $116 million, Last year, the company reported a retained earnings baiance of $595 million, whereas this year it increased to $700 million. How much was paid out in dividends this year? 511 milion $221 mallion $6 million 560 million

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