18 Determining cash payments to stockholdersThe board of directors declared cash dividends totaling $1,300,000 during the current year. The comparative balance sheet indicates dividends payable of $230,000 at thebeginning of the year and $60,000 at the end of the year. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the requiredanalysis, and input your answer in the question below.Open spreadsheetWhat was the amount of cash payments to stockholders during the year? Round your answer to the nearest dollar. Determining cash payments to stockholdersDATADividends declaredDividends payable at the beginning of the yearDividends payable at the end of the year$1,300,000$230,000$60,000Using formulas and cell references, perform the required analysis, and input youranswer into the Amount column. Transfer the numeric result for the green entry cell(B11) into the appropriate field in CNOWV2 for grading.AmountFormulaDividends paid to stockholders during the year

Dividends: A dividend is a dividend paid by a corporation to its shareholders. There are cash…

DATA Dividends declared Dividends payable at the beginning of the year Dividends payable at the end of the year $1,300,000 $230,000 $60,000 Using formulas and cell references, perform the required analysis, and input your answer into the Amount column. Transfer the numeric result for the green entry cell (B11) into the appropriate field in CNOWV2 for grading. Amount Formula Dividends paid to stockholders during the year