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

Multiple Choice

Use the information below for Barton Shipping Corp.for 2016 and 2017 to answer the following question. $\begin{array}{lr}\text { Retained earnings, December } 31,2016 & \$ 300,000 \\\text { Retained earnings, December } 31,2017 & 345,000 \\\text { Dividends payable, December } 31,2016 & 19,000 \\\text { Dividends payable, December } 31,2017 & 29,000 \\\text { Net income-2017 } & 150,000\end{array}$ How much cash did Barton Shipping pay for dividends during 2017?

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