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The following account balances appear on Martin Company's balance sheet at the beginning and end of 2012: 1/1/2012 12/31/2012 $ 30,000 $ 45,000 Dividends Payable Retained Earnings 380,000 760,000 Net income for the year amounted to $450,000. Determine the amount of cash paid for dividends. O $15,000 O $55,000 O $45,000 O $40,000 O $70,000