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

The accountant for Walter 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 $ 126,000 Cash dividends declared for the year 46,000 Proceeds from the sale of equipment 81,000 Gain on the sale of equipment 7,000 Cash dividends payable at the beginning of the year 18,000 Cash dividends payable at the end of the year 20,000 Net income for the year 92,000

The amount of cash dividends paid during the year would be:

Multiple Choice

$44,000.

$64,000.

$46,000.

$48,000.

$8,000.

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