Indicate the answer choice that best completes the statement or answers the question. On 12/31/21, Hite Industries reported retained earnings of $547,500 on its balance sheet, and it reported that it had $135,000 of net income during the year. On its previous balance sheet, at 12/31/20, the company had reported $445,000 of retained earnings. No shares were repurchased during 2021. How much in dividends did the firm pay during 2021 ? a. $40,300 b. $26,650 c. $25,025 d. $32,500