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.
Co.
Jana Kingston Co.
Mary Ann Benson
Income before interest and taxes $ 1,213,000 $ 1,213,000
Interest expense 104,480 0
1,108,520 1,213,000