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The following information is for Kowloon Company: 20X2 20X1 Loans Payable $12,000 $25,000 Retained Earnings 79,000 76,000 Common Stock 32,000 27,000 Net Income 25,000 24,000

The following information is for Kowloon Company:

20X2 20X1

Loans Payable $12,000 $25,000

Retained Earnings 79,000 76,000

Common Stock 32,000 27,000

Net Income 25,000 24,000

Using this information, compute the cash paid for dividends in 20X2.

(Write the dollar amount of your answer. Do not write the dollar sign.)

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