The board of directors of Glidden Corp. declared cash dividends of $260,000 during the current year. If dividends payable was $80,000 at the beginning of the year and $90,000 at the end of the year, how much cash was paid in dividends during the year? a. Declared dividends $260,000 Add: Dividends payable (beginning of year) $80,000 Deduct: Dividends payable (end of year) ($90,000) Cash paid in dividends during the year $250,000 b. Declared dividends Deduct: Dividends payable (end of year) Cash paid in dividends during the year Deduct: Dividends payable (beginning of year) $260,000 ($90,000) ($80,000) $90,000 c. Declared dividends $260,000 Add: Dividends payable (end of year) $90,000 Deduct:Dividends payable (beginning of year ($80,000) Cash paid in dividends during the year $270,000 d. Dividends payable (beginning of year) Add: Dividends payable (end of year) Add:Declared dividends Cash paid in dividends during the year $80,000 $90,000 $260,000 $430,000