Nichols Inc
Subject:AccountingPrice: Bought3
Nichols Inc. reported the following amounts on its balance sheet at the end of 2019 and 2018 for equity:
12/31/201912/31/2018Common stock$165,000 $105,000 Retained earnings455,490 376,750
Assume that Nichols did not retire any stock during 2019, it reported $94,400 of net income for 2019, and any dividends declared were paid in cash. Determine the amounts Nichols would report in the financing section of the statement of cash flows.
what is the Payment of cash dividends?
