Use the Information Below for Barton Shipping Corp How Much Cash Did Barton Shipping Pay for Dividends During

question 101

Multiple Choice

Use the information below for Barton Shipping Corp.for 2017 and 2018 to answer the following question: $$\begin{array} { l r } \text { Retained earnings, December } 31,2017 & \$ 300,000 \\\text { Retained earnings, December } 31,2018 & 345,000 \\\text { Dividends payable, December } 31,2017 & 19,000 \\\text { Dividends payable, December } 31,2018 & 29,000 \\\text { Net income-2018 } & 150,000\end{array}$$ How much cash did Barton Shipping pay for dividends during 2018?

• A)$95,000
• B)$105,000
• C)$115,000
• D)$140,000

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