Use the Information Below for Focal Point Corp ? Assume That There Were No Retained Earnings Transactions Other

Multiple Choice

Use the information below for Focal Point Corp.for 2016 and 2017 to answer the following question. $\begin{array}{lr}\text { Retained earnings, December } 31,2016 & \$ 300,000 \\\text { Retained earnings, December } 31,2017 & 345,000 \\\text { Dividends payable, December } 31,2016 & 19,000 \\\text { Dividends payable, December } 31,2017 & 29,000 \\\text { Net income-2017 } & 150,000\end{array}$ ? Assume that there were no retained earnings transactions other than those dealing with dividends and net income.How much dividends did Focal Point declare during 2017?

A) $95,000
B) $105,000
C) $140,000
D) $150,000