On 12/31/18, Hite Industries reported retained earnings of $475,000 on its balance sheet, and it reported that it had $135,000 of net income during the year. On its previous balance sheet, at 12/31/17, the company had reported $445,000 of retained earnings. No shares were repurchased during 2018. How much in dividends did the firm pay during 2018?

Hite Industries paid dividends amounting to $105,000 during 2018.

$105,000 represents the net income minus the change in retained earnings.

The change in retained earnings is the difference between the closing balance and the opening balance, i.e. $30,000 (475,000 - 445,000).

The net income is $135,000.  When $30,000 is subtracted from it, the result is $105,000, representing the dividend paid out for the year.

Explanation:

Dividend is paid out from net income for the years, otherwise called Retained Earnings.  This means that Retained Earnings are accumulated net income over the years.

this conflict is person vs. society

if you need further explanations, comment below!

hope this ! < 3