cash flows
Question
Fernwood 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 | $ 268,000 |
| Cash dividends declared for the year | 58,750 |
| Proceeds from the sale of equipment | 100,400 |
| Gain on the sale of equipment | 5,550 |
| Cash dividends payable at the beginning of the year | 25,850 |
| Cash dividends payable at the end of the year | 33,500 |
| Net income for the year | 129,250 |
| The amount of cash paid for dividends was: |
$69,900.$59,350.$70,500.$51,100.$58,750.
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