Chapter 5

Chapter 5 - Chapter 5 The Kroger Co is one of the largest...

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Chapter 5 The Kroger Co. is one of the largest retailers in the United States and also manufactures and processes some of the food for sale in its supermarkets. Kroger reported the following January 31 balances in its statement of stockholders’ equity (dollars in millions): Current Year Prior Year Common stock \$ 967 \$ 944 Paid-in capital 3,346 3,081 Retained earnings 7,469 6,450 During the current year, Kroger reported net income of \$1,245. How much did Kroger declare in dividends for the year? Dividends \$226,000,000 Explanation: Beginning RE + Net income – Dividends = Ending RE Dividends = Beginning RE + Net income – Ending RE Dividends = \$6,450 M + \$1,245 M – \$7,469 M = \$226 M Kroger declared dividends of \$226,000,000 during the year Supply the missing dollar amounts for the 2015 income statement of NexTech Company for each of the following independent cases. ( Hint : Organize each case in the format of the classified or multiple-step income statement. Rely on the amounts given to infer the missing values.) Case A Case B Case C Case D Case E Sales revenue \$930 \$890 \$450 \$1,370 \$730

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