Rugby Rocks, Inc. had a Retained Earnings balance of $12,000 at December 31, 2010. The company had an average income of $7,500 over the next 3 years, and an ending Retained Earnings balance of $15,000 at December 31, 2013. What was the total amount of dividends paid over the last three years?
A) $4,500.
B) $6,500.
C) $19,500.
D) $27,000.
Correct Answer:
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