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Question
Bagwell's net income for the year ended December 31, Year 2 was $175,000. Information from Bagwell's comparative balance sheets is given below. Compute the cash paid for dividends during Year 2.| At December 31 | Year 2 | Year 1 |
| Common Stock, $5 par value | $500,000 | $450,000 |
| Paid-in capital in excess of par | 948,000 | 853,000 |
| Retained earnings | 688,000 | 582,000 |
A.$79,000.
B.$201,000.
C.$95,000.
D.$50,000.
E.$69,000.
Answer
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