The accountant for Crusoe 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$127,000?Cash dividends declared for the year 47,000?Proceeds from the sale of equipment 82,000?Gain on the sale of equipment 7200?Cash dividends payable at the beginning of the year 19,000?Cash dividends payable at the end of the year 21,200?Net income for the year 93,000?The amount of cash dividends paid during the year would be:
A. $46,800.
B. $8800.
C. $44,800.
D. $66,000.
E. $48,800.
Answer: C
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