Problem

At the beginning of the current year, Waxler Corporation had dividends payable of $1,600,0...

At the beginning of the current year, Waxler Corporation had dividends payable of $1,600,000. During the current year, the company declared cash dividends of $4,500,000, of which $970,000 appeared as a liability at year-end. Determine the amount of cash dividends paid during this year.

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