Question - The accountant for Crusoe 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 $ 135,500
Cash dividends declared for the year 55,500
Proceeds from the sale of equipment 90,500
Gain on the sale of equipment 8,900
Cash dividends payable at the beginning of the year 27,500
Cash dividends payable at the end of the year 31,400
Net income for the year 101,500
The amount of cash dividends paid during the year would be:
$267,000.
$271,100.
$295,000.
$193,000.