Scully Corporation began 2011 with a retained earnings balance of $819,000. During 2011, the firm earned $277,000 after taxes. From this amount, preferred stockholders were paid $23,000 in dividends. At year-end 2011, the firm's retained earnings totaled $978,000. The firm had 120,000 shares of common stock outstanding during 2011.
a) Prepare a statement of retained earnings for the year ended December 31, 2011 for the Scully Corporation
b) Calculate the firm's earnings per share (EPS).
c) How large a per-share cash dividend did the firm pay on common stock during 2011?