Using the data in this table, complete the following statement: Dividends paid in 2024 were $ 3 $

The balance sheet accounts listed below are the only items on the company's balance sheet for each year and the income statement accounts are the only Items on the company's income statement for each year. Item 2023 2024 Accounts payable 2,000 3,000 Accounts receivable 20,000 22,000 Accruals 2,000 1,000 Cash ??? 44,000 Common Stock 47,000 ??? COGS 17,500 25,000 Depreciation expense 3,000 3,000 Interest expense 1,000 1,000 Inventories 25,000 35,600 Long-term debt 110,000 115,000 Net fixed assets 76,000 86,000 Notes payable 2,500 2,000 Operating expenses (excl. depr.) 27,500 45,000 Retained earnings 1,000 16,600 Sales 70,000 100,000 Taxes 7,000 8,666