Reference no: EM132060526

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.