On 12/31/2020, Heaton Industries Inc. reported retained earnings of $650,000 on its balance sheet, and...
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On 12/31/2020, Heaton Industries Inc. reported retained earnings of $650,000 on its balance sheet, and it reported that it had $172,500 of net income during the year. On its previous balance sheet, at 12/31/2019, the company had reported $555,000 of retained earnings. No shares were repurchased during 2020. How much in dividends did Heaton pay during 2020? Select the correct answer. a. $77,500 b. $77,604 c. $77,552 d. $77,396 e. $77,448
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