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20 July, 11:31

Intel reports retained earnings at the end of fiscal 2018 of $35,477 million and retained earnings at the end of fiscal 2017 of $32,138 million. The company reported dividends of $4,479 million and other transactions with shareholders that reduced retained earnings during the year by $1,802 million. How much net income did the firm report in fiscal 2018?

A) $3,339 million net income

B) $3,339 million net loss

C) $9,620 million net income

D) $9,620 million net loss

E) None of the above

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Answers (1)
  1. 20 July, 12:23
    0
    net income = $9620

    so correct option C) $9,620 million net income

    Explanation:

    given data

    retained earnings 2018 = $35,477 million

    retained earnings 2017 = $32,138 million

    dividends = $4,479 million

    reduced retained = $1,802 million

    to find out

    net income did the firm report in fiscal 2018

    solution

    we get reduced due to dividend and other transaction is

    reduced due to dividend and other transaction = $4479 + $1802

    reduced due to dividend and other transaction = $6281

    net income = retained earnings - reduced due to dividend and other transaction ... 1

    net income = $35477 - $6281

    net income = $9620

    so correct option C) $9,620 million net income
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