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The year-end 2009 balance sheet for Tom's Copy, Inc. lists common stock ($1.00 par value) of $11,831, capital surplus of $23,932 and retained earnings of
The year-end 2009 balance sheet for Tom's Copy, Inc. lists common stock ($1.00 par value) of $11,831, capital surplus of $23,932 and retained earnings of $48,382. On the 2010 year-end balance sheet, retained earnings are listed as $50,503. The firm's net income in 2010 was $6,476. No stock was issued or repurchased in 2010. What were the total dividends paid by the firm in 2010?
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