Problem:
The following condensed information was reported by Peabody Toys, Inc., for 2016 and 2015: ($ in 000s) 2016 2015 Income statement information Net sales $ 5,200 $ 4,200 Net income 180 124 Balance sheet information Current assets $ 800 $ 750 Property, plant, and equipment (net) 1,100 950 Total assets $ 1,900 $ 1,700 Current liabilities $ 600 $ 450 Long-term liabilities 750 750 Paid-in capital 400 400 Retained earnings 150 100 Liabilities and shareholders' equity $ 1,900 $ 1,700
Required:
Question: Determine the amount of dividends paid to shareholders during 2016.
Note: Please provide through step by step calculations.