Taylor Company Follows the Indirect Method to Prepare Its Statement $\quad$

Taylor Company follows the indirect method to prepare its statement of cash flows. Refer to the following portion of the comparative balance sheet: $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ Taylor Company
$\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ Comparative Balance Sheet
$\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ December 31, 2014 and 2013
$\begin{array}{lrrc}\hline&2014&2013& \text { Increase/decrease } \\ \text { Common Stock } & \$ 30,000 & \$ 2,000 & \$ 28,000 \\\text { Retained Earnings} & 154,000 & 89,000 & 65,000 \\\text { Treasury Stock} & (8,000) & (5,000) & (3,000) \\\text {Total equity} & \$176,000& \$86,000 & \$90,000 \\\hline\end{array}$ Note: Net Income for the year was $89,000.
Based on the above information, calculate the dividends declared during the year 2014.

A) $3,000
B) $89,000
C) $65,000
D) $24,000