Given the following financial statements for ACME Corporation what amount did

Given the following financial statements for ACME Corporation what amount did the company pay in dividends for 2007?

Year Ended 12/31/07 12/31/07

12/31/06

Sales

1200000

Current Assets

$50000

$45000

Cost of

Goods Sold

750000

Gross Fixed Assets

880000

650000

Operating Expenses

200000

Less Acc. Dep.

450000

350000

Depreciation Expense

100000

Fixed Assets

430000

350000

EBIT

150000

Total Assets

$480000

$395000

Interest Expense

50000

EBT

100000

Current Liabilities

$35000

$50000

Taxes

40000

Long-term Debt

330000

270000

Net Income

$60000

Common Stock

5000

5000

Retained Earnings

110000

Total Liab & Equity

$480000

a. $100000

b. $20000

c. $45000

d. $60000