The stockholders' equity section of The Seventies Shop is presented here. THE SEVENTIES SHOP Balance Sheet (partial) ($ in thousands) Stockholders equity: Preferred stock, $50 par value Common stock, $5 par value Additional paid-in capital) Total paid-in capital Retained earnings Treasury stock Total stockholders' equity 15,000 45,000 60,000 48,000 (2,700) $105,300 Based on the stockholders' equity section of The Seventies Shop answer the following questions. Remember that all amounts are presented in thousands Problem 10-4B Part 4. 4. If retained earnings at the beginning of the period was $40 million and net income during the year was $10.850.000, how much was paid in dividends for the year? (Enter your answer in dollars not in millions. (i.e., 5 should be entered as 5,000,000).) Dividends paid