Salah's net income for the year ended December 31, Year 2 was $175,000. Information from Salah's comparative balance sheets is given below. Compute the cash paid for dividends during Year 2.At December 31Year 2Year 1Common 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. $95,000.
B. $201,000.
C. $79,000.
D. $50,000.
E. $69,000.
Answer: E
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