The accountant for Sysco Company is preparing the company's statement of cash flows for the fiscal year just ended. The following information is available:

Retained earnings balance at the beginning of the year	$	939,000
Net income for the year		290,000
Cash dividends declared for the year		54,000
Retained earnings balance at the end of the year		1,367,000
Cash dividends payable at the beginning of the year		12,400
Cash dividends payable at the end of the year		14,600

What is the amount of cash dividends paid that should be reported in the financing section of the statement of cash flows?