Business, 01.06.2021 09:00 dianaosorio33895

1. Hayes Enterprises began 2003 with a retained earnings balance of $820,000. During 2003, the firm earned $470,000 after taxes. From this amount, preferred stockholders were paid $47,000 in dividends. At year-end 2003, the firm's retained earnings totaled $1,040,000. The firm had 120,000 shares of common stock outstanding during 2003. a. Prepare a statement of retained earnings for the year ended December 31, 2003, for Hayes Enterprises. (Note: Be sure to calculate and include the amount of cash dividends paid in 2003.)

b. Calculate the firm's 2003 earnings per share (EPS).

c. How large a per-share cash dividend did the firm pay on common stock during 2003?

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1. Hayes Enterprises began 2003 with a retained earnings balance of $820,000. During 2003, the firm...

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