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Question(s) / Instruction(s):

The accountant for Robinson 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               $164,000

  Cash dividends declared for the year    $49,000

  Proceeds from the sale of equipment  $76,000

  Gain on the sale of equipment                $7,000

  Cash dividends payable at the beginning of the year     $23,000

  Cash dividends payable at the end of the year $43,000

  Net income for the year             $96,000

The amount of cash dividends paid during the year would be:

a)            $49,000.

b)            $16,000.

c)            $72,000.

d)            $88,000.

e)            $29,000.

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