Retained earnings for 2005v were $490,000. In 2006 $60,000 was reported of net income, and it ended 2006 with $510,000 of retained earnings. How much were paid as dividends to shareholders during 2006

Retained earnings for 2005v were $490,000. In 2006 $60,000 was reported of net income, and it ended 2006 with $510,000 of retained earnings. How much were paid as dividends to shareholders during 2006 ?

1) 490,000
2) 60,000 +
__________
3) 550,000
4) 510,000 -

_________

5) 40,000 DIVIDENDS.
==========