Ontario Company, a natural energy supplier, borrowed 8,000,000 cash on Novemebr 1, 2020 to fund a geological survey. The loan was granted by United Bank under a short-term credit line. Ontario issued a 9-month, 12% promissory note with
interest payable at maturity. The fiscal period is the calendar year.

For the year, uptowne furniture had sales of $818,790, costs of $748,330, and interest paid of $24,450. the depreciation expense was $56,100 and the tax rate was 34 percent. at the beginning of the year, the firm had retained earnings of $172,270 and common stock of $260,000. at the end of the year, retained earnings was $158,713 and common stock was $280,000. any tax losses can be used. what is the amount of the dividends paid for the year? a. $6,466 b. $7,566 c. $5,266 d. $6,898 e. $7,066