Statement of retained earnings
P3. Statement of retained earnings Hayes Enterprises began 2009 with retained earnings balance or $928,000. During 2009, the firm earned $377,000 after taxes. From this amount, preferred stockholders were paid $47,000 in dividends. At year-end 2009, the firm’s retained earnings totals $1,048,000. The firm had 140,000 shares of common stock outstanding during 2009.
a. Prepare a statement of retained earnings for the year ended December 31, 2009, for Hayes Enterprises. (Note: Be sure to calculate and include the amount of cash dividends paid in 2009).
b. Calculate the firm’s 2009 earnings per share (EPS).
c. How large a per-share cash dividend did the firm pay on common stock during 2009?
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