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On 12/31/19, Hite Industries reported retained earnings of $550,000 on its balance sheet, and it reported that it had $135,000 of net income during the

On 12/31/19, Hite Industries reported retained earnings of $550,000 on its balance sheet, and it reported that it had $135,000 of net income during the year. On its previous balance sheet, at 12/31/18, the company had reported $450,000 of retained earnings. No shares were repurchased during 2019. How much in dividends did the firm pay during 2019?

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