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The Shareholders' Equity Section of Time Company's Comparative Balance Sheets

Question 28

Multiple Choice

The shareholders' equity section of Time Company's comparative balance sheets for the years ended December 31, 2018 and 2017, reported the following data: The shareholders' equity section of Time Company's comparative balance sheets for the years ended December 31, 2018 and 2017, reported the following data: During 2018, Time declared and paid cash dividends of $90 million. The company also declared and issued a stock dividend. No other changes occurred in shares outstanding during 2018. What was Time's net income for 2018? A) $28 million B) $118 million C) $130 million D) $178 million During 2018, Time declared and paid cash dividends of $90 million. The company also declared and issued a stock dividend. No other changes occurred in shares outstanding during 2018. What was Time's net income for 2018?


A) $28 million
B) $118 million
C) $130 million
D) $178 million

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