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Beewell's net income for the year ended December 31, Year 2 was $195,000. Information from Beewell's comparative balance sheets is given below. Compute the cash
Beewell's net income for the year ended December 31, Year 2 was $195,000. Information from Beewell's comparative balance sheets is given below. Compute the cash paid for dividends during Year 2. |
At December 31 | Year 2 | Year 1 |
Common Stock, $5 par value | $ 510,000 | $ 459,000 |
Paid-in capital in excess of par | 958,000 | 862,000 |
Retained earnings | 698,000 | 591,000 |
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