Memorial Corporation Information from the Financial Records Is Presented Below

Memorial Corporation Information from the financial records is presented below:
$\begin{array}{l} \text { Retained earnings, December 31,2014 } &\$ 400,000 \\ \text { Retained earnings, December 31, 2013 } &250,000 \\ \text { Dividends payable, December 31, 2014 } &20,000 \\ \text { Dividends payable, December 31, 2013 } &30,000 \\ \text { Net income for 2014 } &200,000\end{array}$
-Refer to Memorial Corporation.How much cash was paid for dividends during 2014?

A) $40,000
B) $50,000
C) $60,000
D) $80,000