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Salahs net income for the year ended December 31, Year 2 was $197,000. Information from Salahs comparative balance sheets is given below. At December 31

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.

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

Compute the cash paid for dividends during Year 2.

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