Salah's net income for the year ended December 31, Year 2 was $197,000. Information from Salah's comparative balance sheets is given below. Compute the cash paid for dividends during Year 2.

At December 31Year 2Year 1Common Stock, $5 par value$512,000$460,800Paid-in capital in excess of par960,000863,800Retained earnings700,000592,800

Multiple Choice

• $96,200.
• $51,200.
• $89,800.
• $147,400.
• $107,200.