Use the following financial statements for your company to calculate the amount dividends paid for 2016?

Income Statement

			Balance Sheet
Year Ended 12/31/2016				12/31/2016		12/31/2015
Sales	$1,300,000		Current Assets	$50,000		$45,000
Cost of Goods Sold	750,000		Gross Fixed Assets	880,000		650,000
Operating Expenses	200,000		Less Accumulated Depreciation	450,000		350,000
Depreciation Expense	100,000		Fixed Assets	430,000		350,000
EBIT	250,000		Total Assets	$480,000		$395,000
Interest Expense	50,000
EBT	200,000		Current Liabilities	$35,000		$50,000
Taxes	80,000		Long-term Debt	330,000		270,000
Net Income	$120,000		Common Stock	5,000		5,000
			Retained Earnings	110,000		70,000
			Total Liabilities & Equity	$480,000		$395,000

		$65,000
		$75,000
		$70,000
		$85,000
		$80,000