Solved: Suppose a company had 7 million net income for year 2014, Basic Statistics

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Suppose a company had 7 million net income for year 2014

Suppose a company had $7 million net income for year 2014, and paid out dividends of $0.7 per share. The company has 10 million shares outstanding. If the company had $28 million retained earning at the end of year 2013, the balance of the retained earnings now (year 2014) is $_____ millions.

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Basic Statistics: Suppose a company had 7 million net income for year 2014

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