Tennessee Company uses the indirect method to prepare its statement of cash flows. Refer to the following portion of the comparative balance sheet: Tennessee Company Comparative Balance Sheet December 31, 2024 and 2023 2024 2023 Increase/(Decrease) Common Stock $42,000 $18,000 $24,000 Retained Earnings 123,000 98,000 25,000 Treasury Stock (2.000) (3,000) (6,000) Total Stockholders' Equity 156.000 113.000 43.000 If the net income for the year was $71,000, what amount of dividends must have been declared during the year