The Retained Earnings balance was $23,500 on January 1. Net Income for the year was $19,000. If Retained Earnings had a credit balance of $25,000 after closing entries were made for the year, and if additional shares of $5,800 was issued during the year what was the amount of dividends declared during the year? Multiple Choice $17,500 $26,300 $24,800 $11,700