- 11 3 Northern Technology Inc Nti Closed The End Of 2009 With A Balance Of 1 500 000 In Retained Earn Ings As Shown 1 (237.49 KiB) Viewed 24 times
11.3 Northern Technology Inc. (NTI) closed the end of 2009 with a balance of $1,500,000 in retained earn- ings, as shown
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11.3 Northern Technology Inc. (NTI) closed the end of 2009 with a balance of $1,500,000 in retained earn- ings, as shown
11.3 Northern Technology Inc. (NTI) closed the end of 2009 with a balance of $1,500,000 in retained earn- ings, as shown below. Because of a poor economy, NTI cut its total annual dividends to $30,000, after which it expects earnings and dividends to increase. For the next eight years, it expects the following results. Retained Earnings ($000) 1,500 Net income (loss) ($000) Dividends ($000) Year 2009 2010 2011 2012 2013 2014 2015 2016 2017 (500) (200) 400 350 700 810 950 1,150 30 30 45 45 125 150 225 ? Required: Calculate the maximum dividend NTI could pay at the end of 2017, assuming dividends are paid once annu- ally at year-end.