Determining Dividends Paid on Statement of Cash Flows Clifford Company’s comparative balance sheet included dividends payable of $80,000 at December 31, 2007, and $100,000 at December 31, 2008. Dividends declared by Clifford during 2008 amounted to $400,000.

Required 1. Calculate the amount of dividends actually paid to stockholders during 2008.

2. How will Clifford report the dividend payments on its 2008 statement of cash flows?