New Orleans Chemicals Company follows the indirect method to prepare its statement of cash flows. Refer to the following portion of the comparative balance? sheet:
A. $93,000
B. $30,000
C. $63,000
D. $2,800
Answer: B. $30,000
Dividend declared during 2018 = Beginning retained earnings + Net income - Ending retained earnings balance
= $95000+93000-158000
= $30,000
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