(Answered) Financial statement relations to compute

Accounting

Financial Statement Relations to Compute Dividends

Colgate-Palmolive Company reports the following balances in its retained earnings.

Retained earnings

$14,329

$13,157

During 2010, Colgate-Palmolive reported net income of $2,203 million.

a. Assume that the only changes affecting retained earnings were net income and dividends. What amount of dividends did Colgate-Palmolive pay to its shareholders in 2010? answer in $

b. This dividend amount constituted what percent of its net income? (Round your answer to one decimal place.)

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