Problem
Energrow began 2016 with retained earnings balance of $928,000. During 2016, Energrow earned $377,000 after taxes. From this amount, preferred stockholders were paid $47,000 in dividends. At year-end of 2016, the firm's retained earinings totaled $1,048,000. Energrow had 140,000 shares of common stock outstanding by the end of year 2016.
1) Give a statement of retained earnings for the year ended on 31 December, 2016 for Energrow (hint: don't forget to caluclate and include the amount of cash dividend paid on common stock in 2016).
2) Calculate the firm's 2016 earnings per share (EPS).
3) How much was the cash dividend per share for Energrow common stock in 2016?