On 12/31/14, your firm reported retained earnings of $525,000 on its balance sheet, and it reported that it had $135,000 of net income during the year. On its previous year's balance sheet, the company had reported $447,500 of retained earnings. No shares were repurchased during 2014. How much in dividends did the firm pay during 2014 ? $50,000 $60,000 $52,500 $55,000 $57,500