Barclays Company is preparing the company's statement of cash flows for the fiscal year just ended. The following information is available:

Retained earnings balance at the beginning of the year	$ 318,000
Cash dividends declared for the year	71,250
Proceeds from the sale of equipment	122,400
Gain on the sale of equipment	7,050
Cash dividends payable at the beginning of the year	31,350
Cash dividends payable at the end of the year	38,500
Net income for the year	156,750

The amount of cash paid for dividends was:

Multiple Choice

• $64,100.

• $69,850.

• $86,900.

• $85,500.

• $71,250.

A company reported that its bonds with a par value of $50,000 and a carrying value of $62,000 are retired for $66,000 cash, resulting in a loss of $4,000. The amount to be reported under cash flows from financing activities is:

Multiple Choice

• $(4,000).

• $(62,000).

• $12,000.

• $(66,000).

• $(12,000).