help please Help Save& Exit Submit 3 Fernwood Company is preparing the is availa

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help please

Help Save& Exit Submit 3 Fernwood Company is preparing the is available: nt of cash fliows for the fiscal year just ended. The following information Retained earnings balance at the beginning of the year Cash dividends declared for the year Proceeds from the sale of equipment Gain on the sale of equipment Cash dividends payable at the beginning of the year Cash dividends payable at the end of the year Net income for the year 75,000 129,e80 7,500 33,8e0 48,800 165,000 The amount of cash paid for dividends was Multiple Choice S75.000 $92.000 $68.000

Explanation / Answer

D. $68,000

Cash dividends payable at the beginning of the year $33,000 Cash dividends declared during the year $75,000 Cash dividends payable at the end of the year ($40,000) Cash dividends paid during the year $68,000

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