The accountant for Sysco Company is preparing the company's statement of cash flows for the...
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Accounting
The accountant for Sysco Company is preparing the company's statement of cash flows for the fiscal year just ended. The following information is available:
| Retained earnings balance at the beginning of the year | $ | 939,000 |
| Net income for the year | 290,000 | |
| Cash dividends declared for the year | 54,000 | |
| Retained earnings balance at the end of the year | 1,367,000 | |
| Cash dividends payable at the beginning of the year | 12,400 | |
| Cash dividends payable at the end of the year | 14,600 | |
What is the amount of cash dividends paid that should be reported in the financing section of the statement of cash flows?
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