(Chapter 2) At the beginning of the year, Tony V's has shareholders' equity of $300,000. During the year, the company had net income of $144,000 and paid out 40 percent of net income as dividends. The rest was reinvested in the firm (ie retained earnings). At the end of the year shareholders' equity was $418,400. What is the cash flow to stockholders? (Hint: Do not forget the impact of retained earnings and dividends) $25,600 $32.000 $57,600 $118.400 $89.800