New Orleans Chemicals Company follows the indirect method to prepare its Statement of Cash Flows. Refer to the following portion of the comparative Balance Sheet: New Orleans Chemicals Company Comparative Balance Sheet December 31, 2025 and 2024 2025 2024 Increase/(Decrease) Common Stock $35,000 $2,200 $32,800 Retained Earnings 156,000 94,000 62,000 Treasury Stock (8,500) (5,300) (3,200) Total Equity $182,500 $90,900 $91,600 Net Income for 2025 was $90,000. Based on the above information, determine the amount of dividends declared during 2025.
1) $62,000
2) $90,000
3) $28,000
4) $3,200