In its most recent financial statements, Newhouse Inc. reported $880,000 of net income and $3,900,000 of retained earnings. The previous retained earnings were $3,510,000. How much in dividends were paid to shareholders during the year? Assume that all dividends declared were actually paid. $2,630,000 $490,000 $3,020,000 $0 $390,000 $880,000 .