Question: Please help me answer this question step by step with explanation. Thank you! Bodie Corporation reported the following amounts in its financial statements: Retained earnings,

Please help me answer this question step by step with explanation. Thank you!

Bodie Corporation reported the following amounts in its financial statements:

Retained earnings, Jan. 1, 2018 $78,749

Retained earnings, Dec. 31, 2018 $61,221

Net income, 2018 $58,435

What were the dividends declared and paid in 2018?

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