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1) Colonial Furniture's net profits before taxes for 2021 totaled $454,000. The company's total retained earnings were $350,000 for 2020 year-end and $389,000 for 2021

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1) Colonial Furniture's net profits before taxes for 2021 totaled $454,000. The company's total retained earnings were $350,000 for 2020 year-end and $389,000 for 2021 year-end. Colonial is subject to a 21 percent tax rate. What was the cash dividend declared by Colonial Furniture in 2021? show your computation

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