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The following information was drawn from the year-end balance sheets of White, Inc. Year 2...

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Accounting

The following information was drawn from the year-end balance sheets of White, Inc. Year 2 Year 1 Bonds payable $ 200,000 $ 275,000 Common stock 112,500 87,500 Treasury stock 17,500 12,500 Retained earnings 35,000 27,500 The amount of net income shown on the Year 2 income statement was $17,500. There was no beginning or ending balance in the Dividends Payable account. What is the amount of cash outflows for dividends?

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