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1. DEF Corp. had a balance in the Retained Earnings account on December 31, 2017 of $722,035 and on December 31, 2018 of $809,475. DEF

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1. DEF Corp. had a balance in the Retained Earnings account on December 31, 2017 of $722,035 and on December 31, 2018 of $809,475. DEF Corp. also had a balance in the Dividends Payable account on December 31, 2017 of $18,430 and on December 31, 2018 of $22,215. Net Income for 2018 was $293,690. How much did DEF Corp. pay in cash for Dividends in 2018? Show your calculations. You may use the grid or the T-account. (15 points)

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