TB MC Qu$.12-145($Algo$)$ Salah$$s net income for the year...

Salah$$s net income for the year ended December $31,$ Year $2$ was $$192,000.$ Information from Salah$$s comparative balance sheets is given below. Compute the cash paid for dividends during Year $2.$

At December $31$ Year $2$ Year $1$

Common Stock, $$5$ par value $ $507,000$ $ $456,300$

Paid$-$in capital in excess of par $955,000859,300$

Retained earnings $695,000588,300$