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e Secure https://newconnect.mheducation.com/flow/connect html Netflix Watch TV and movi https//www.myhert M Inbox (5,717) aficia My Schedule and rBookma Exam 1, Ch 12 & 13 7 The eccountant for Mandarin Company is prepering 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 Net income for the year Cash dividends declared for the year Retained earnings balance at the end of the year ash dividends payable at the beginning of the year $1,069,000 $355,000 $67000 $1,757,000 $15,00 $18,50 010124 Cash dividends payable at the end of the year What is the amount of cash dividends paid that should be reported in the financing section of the statement of cash flows? Multiple Choice $67000. $70,500 $100,500 $3,500 KPrev 7 of 40

Solution

1 Cash dividends paid = 67000+15000-18500= $63500 2 Cash received from dividends = 68500+5100-4100 = $69500 3 Cash dividends paid = 50000+22000-24800= $47200 4 Beginning cash balance = 26400-21760= $4640 5 Cash paid for wages and salaries = 169000+6500-10800= $164700