(Answered) Question - arriaga corporation has 155000 shares of common

Accounting

Question - Arriaga Corporation has 155,000 shares of common stock outstanding and pays quarterly dividends of $.28 per share. At the beginning of the current year, the balance in its accumulated E&P account is $35,000. Arriaga would like to have sufficient E&P to pay its dividends in the current year. To do so, what minimum amount of E&P must the corporation generate in the current year?

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