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3 June, 09:11

Colgate-Palmolive Company reports the following balances in its retained earnings. ($ millions) 2010 2009 Retained earnings $14,329 $13,157 During 2010, Colgate-Palmolive reported net income of $2,203 million. a. Assume that the only changes affecting retained earnings were net income and dividends. What amount of dividends did Colgate-Palmolive pay to its shareholders in 2010

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  1. 3 June, 10:07
    0
    Answer: $1,031 million

    Explanation:

    Given that,

    Retained earnings (2010) = $14,329 million

    Retained earnings (2009) = $13,157 million

    Net income (2010) = $2,203 million

    Amount of dividends = Retained earnings (2009) + Net income (2010) - Retained earnings (2010)

    = $13,157 million + $2,203 million - $14,329 million

    = $1,031 million

    Therefore, amount of dividends did Colgate-Palmolive pay to its shareholders in 2010 is $1,031 million.
  2. 3 June, 10:57
    0
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