The year-end 2015 balance sheet of Brandex Inc. listed common stock and other paid-in capital at $2,500,000 and retained earnings at $4,800,000. The next year, retained earnings were listed at $5,100,000. The firm’s net income in 2016 was $1,040,000. There were no stock repurchases during the year. What were the dividends paid by the firm in 2016?The year-end 2015 balance sheet of Brandex Inc. listed common stock and other paid-in capital at $2,500,000 and retained earnings at $4,800,000. The next year, retained earnings were listed at $5,100,000. The firm’s net income in 2016 was $1,040,000. There were no stock repurchases during the year. What were the dividends paid by the firm in 2016?