MC Qu. 165 Bagwells net income for the year...

Bagwell's net income for the year ended December 31, Year 2 was $175,000. Information from Bagwell'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	$	500,000		$	450,000
Paid-in capital in excess of par		948,000			853,000
Retained earnings		688,000			582,000

Multiple Choice

• $69,000.

• $50,000.

• $95,000.

• $79,000.

• $201,000.