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5. On January 1, 2017, A-Best Company's balance in retained earnings was $80,000. At the end of the year, December 31, 2017, the balance in

5. On January 1, 2017, A-Best Company's balance in retained earnings was $80,000. At the end of the year, December 31, 2017, the balance in retained earnings was $94,000. During 2017, the company earned net income of $40,000. How much were dividends?
a.
$16,000
b.
$24,000
c.
$26,000
d.
$64,000

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