On 12/31/13, Heaton Industries Inc. reported retained earnings of$525,000 on its balance sheet, and it reported that it had $172,500 of net income during the year. On its previous balance sheet, at 12/31/12, the company had reported $555,000 of retained earnings. No shares were repurchased during 2013. How much in dividends did Heaton pay during 2013? Select the correct answer. a. $202,652 b. $202,424 c. $202,728 d. $202,576 e. $202,500
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