Assume Retained Earnings on the comparative balance sheet indicated $5,300,000 as the beginning balance and $6,650,000 at the end of the year. The Income Statement indicates that Net Income was $1,635,000. Use the T account below to answer the following questions. Note The labels for each item are on the left but this DOES NOT mean the item will be on the left side (debit) of the T account.

	Retained Earnings
Begin Balance
Net Income
Dividends declared
Ending Balance

Include the beginning and ending balances on the correct side of the T-account

Show Net Income appropriately in the T account above.

Solve for Dividends declared.

What will be reported as Cash paid for Dividends on the Statement of Cash Flows?