At December 31, 20X1, Suiza Inc. had $1,250,000 in assets and $630,000 in liabilities. For the year ended December 31, 20X1, net income was $45,000. During 20X1, $10,000 in common stock was issued, liabilities decreased $10,000, assets increased $30,000, and dividends were declared. The only accounts in the Stockholders' Equity section of the balance sheet for Suiza are Common Stock and Retained Earnings. What were total dividends declared during 20X1? A. $15,000 B. $35,000 C. $55,000 D. $75,000 E. $95,000
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