ACC 304 Course Great Wisdom / tutorialrank.com ACC 304 Course Great Wisdom / tutorialrank.com | Page 323

Common stock ($20 par)
2,184,000
Retained earnings (Cash dividends, $327,900)
712,200

Retained earnings (Cash dividends, $226,100)
712,200

$4,517,200

$4,517,200

For the year, each company has earned the same income before
interest and taxes.

Jana Kingston Co.

Mary Ann Benson

Co.

Income before interest and taxes
$1,213,000

Interest expense

1,108,520

$1,213,000

104,480

1,213,000

0