1nbsp lube oil in question 3 paid a dividend of 20 million, Accounting Basics

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1nbsp lube oil in question 3 paid a dividend of 20 million

1. Lube Oil, in Question 3, paid a dividend of $20 million and bought back $25 million in stock. Estimate how much the cash balance of the firm changed during the year.

2. How would your answers to the last two questions change if you were told that Lube Oil started the year with $120 million in debt and ended the year with $135 million?

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Accounting Basics: 1nbsp lube oil in question 3 paid a dividend of 20 million

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Accounting Basics: 1nbsp lube oil in question 3 paid a dividend of 20 million

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