Question
Based on the following information: *Year End Dec 2017: Net Income $2,000, Accounts Receivable $750, Accumulated Depreciation $1,000, Common Stock $4,500, Paid-in Capital $7,500, Retained
Based on the following information: *Year End Dec 2017: Net Income $2,000, Accounts Receivable $750, Accumulated Depreciation $1,000, Common Stock $4,500, Paid-in Capital $7,500, Retained Earnings $1,500, Accounts Payable $750. *Year End 2018: Net Income $5,000, Accounts Receivable $750, Accumulated Depreciation $1,500, Common Stock $5,000, Paid-in Capital $8,000, Retained Earnings $2,500, Accounts Payable $750. Calculate the amount of dividends paid by Jones Company in 2018 (no assets were disposed of during the year, and there was no change in interest payable or taxes payable).
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