Superior has provided the following information for its recent year of operation:

The common stock account balance at the beginning of the year was $18,000 and the year-end balance was $19,000.

The additional paid-in capital account balance increased $3,400 during the year.

The retained earnings balance at the beginning of the year was $70,000 and the year-end balance was $88,000.

Net income was $35,000.

How much were Superior's dividend declarations during its recent year of operation?

Multiple Choice

• $17,000.

• $35,000.

• The dividend declarations cannot be determined given the above information.

• $53,000.