Question: Use the following data (in millions) for Campbell Soup Co. for the year ending August 1, 2004, to answer the following questions.
Retained earnings August 3, 2003 $5,254
Retained earnings August 1, 2004 5,642
Net cash from operating activities 1,106 Net decrease in cash 3
a. Determine the net increase or decrease in retained earnings during 2004.
b. If dividends in 2004 are $259, what was the net income or loss for Campbell Soup for the year ending August 1, 2004?