Module 11 Homework June 30. During 20X8, the company paid a dividend of No snares were sold on sold during the year. The tax rate is 30% and 1/2 of 208 were paid in 20X8 and the rest will paid in 20X9. The Note Payable requires an annual payment of $30,000 principal plus interest at 6% on December 31 of each year. (Note-this is a service company-no COGS!) Owners' Equity and Statement of Cash Flows. Owners' Equity and Statement of Cash Flows