Statement of retained earnings Hayes Enterprises began 2015 with a
retained earnings balance of $928,000. During 2015, the firm earned
$377,000 after taxes. From this amount, preferred stockholders were paid
$47,000 in dividends. At year-end 2015, the firm’s retained earnings
totaled $1,048,000. The firm had 140,000 shares of common stock
outstanding during 2015.
a. Prepare a statement of retained earnings
for the year ended December 31, 2015, for Hayes Enterprises. (Note: Be
sure to calculate and include the amount of cash dividends paid in
b. Calculate the firm’s 2015 earnings per share (EPS).
c. How large a per-share cash dividend did the firm pay on common stock during 2015?