Wednesday, July 20, 2011

What is the retain earnings after this equation.?

at the beginning of 2006, Titan Corp had 2 million shares of $2 par value common stock outstanding and retained earnings of $15 million. During 2006, Titan earned $10 million, declared a 5% stock dividend when the price of the stock was $17 per share, and paid a year-end cash dividend of $3.00 per share. (The cash dividend was declared after the stock dividend had been distributed.) At the end of 2006, the company's retained earnings amount to $_____.

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