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Information from bagwell comparative balance sheets

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Bagwell's net income for the year ended December 31, Year 2 was $190,000. Information from Bagwell's comparative balance sheets is given below. Compute the cash paid for dividends during Year 2.

At December 31

Year 2

Year 1

Common Stock, $5 par value

$

505,000

$

454,500

Paid-in capital in excess of par

 

953,000

 

857,500

Retained earnings

 

693,000

 

586,500

a) $146,000

b) $83,500

c) $95,500

d) $50,500

e) $106,500

Reference no: EM131412502

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