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Fashion, Inc. had a Retained Earnings balance of $11,000 at December 31, 2021. The company had...

Fashion, Inc. had a Retained Earnings balance of $11,000 at December 31, 2021. The company had an average income of $7,500 over the next 2 years, and an ending Retained Earnings balance of $13,000 at December 31, 2023. What was the total amount of dividends paid over the last two years?

Multiple Choice

  • $14,500.

  • $13,000.

  • $16,000.

  • $12,250.

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