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  3. based on the following information: *year end dec

Based on the following information: *Year End Dec 2007: Net Income +2,000 Accounts Receivable $750...

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Accounting

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Based on the following information: *Year End Dec 2007: Net Income +2,000 Accounts Receivable $750 Accumulated Depreciation $1,000 Common Stock $4,500 Paid-in Capital $7,500 Retained Earnings $1,500 Accounts Payable $750; *Year End 2008: Net Income $5,000 Accounts Receivable $750 Accumulated Depreciation $1,500 Common Stock $5,000 Paid-in Capital $8,000 Retained Earnings $2,500 Accounts Payable $750; Calculate the amount of dividends paid by Jones Company in 2008 (no assets were disposed of during the year, and there was no change in interest payable or taxes payable). A) $2,000 B) $2,500 C) $3,500 D) $4,000

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