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Question
The accountant for Mandarin Company is preparing the company's statement of cash flows for the fiscal year just ended. The following information is available:| Retained earnings balance at the beginning of the year | $819,000 |
| Net income for the year | $230,000 |
| Cash dividends declared for the year | $ 42,000 |
| Retained earnings balance at the end of the year | $1,007,000 |
| Cash dividends payable at the beginning of the year | $ 10,000 |
| Cash dividends payable at the end of the year | $ 11,000 |
What is the amount of cash dividends paid that should be reported in the financing section of the statement of cash flows?
A.$42,000.
B.$43,000.
C.$63,000.
D.$1,000.
E.$41,000.
Answer
This answer is hidden. It contains 137 characters.
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