Problemstansfield inc currently has 400000 shares of stock, Ask an Expert

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Problem:

Stansfield, Inc. currently has 400,000 shares of stock outstanding, each with a market price of $20 and a par value of $2.

Required:

Question: If net income for the year is $295,000 and the firm's retention ratio is 60%, what is the dividend per share on the firm's stock?

Note: Please provide through step by step calculations.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91171011

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