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$819,000Net income for the year 230,000Cash dividends declared for the year 42,000Retained earnings balance at the end of the year 1,007,000Cash dividends payable at the beginning of the year 10,000Cash dividends payable at the end of the year 11,000What is the amount of cash dividends paid that should be reported in the financing section of the statement of cash flows?
A. $43,000.
B. $63,000.
C. $42,000.
D. $41,000.
E. $1,000.
Answer: D
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