Based on the information given in Table 1, calculate the dividends paid in 1996
Table 1
Jones Company
Financial Information
March 1995 March 1996
Net income $1,500 $3,000
Accounts receivable 750 750
Accumulated depreciation 1,125 1,500
Common stock 4,500 5,250
Capital surplus 7,500 8,250
Retained earnings 1,500 2,250
Accounts payable 750 750
A) $3,750
B) $3,000
C) $750
D) $2,250
Answer: D
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