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The accountant for robinson company is preparing the

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Reference no: EM13597838

The accountant for Robinson Company is preparing the company's statement of cash flows for the fiscal year just ended. The following information is available:

  • Retained earnings balance at the beginning of the year $167,000
  • Cash dividends declared for the year $46,000
  • Proceeds from the sale of equipment $84,000
  • Gain on the sale of equipment $9,000
  • Cash dividends payable at the beginning of the year $22,000
  • Cash dividends payable at the end of the year $43,000
  • Net income for the year $93,000

The amount of cash dividends paid during the year would be:
1. $78,000.
2. $46,000.
3. $25,000.
4. $13,000.
5. $83,000.

Reference no: EM13597838

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