Retained earnings balance at the beginning of the year $ 328,000 cash dividends declared for the year 73,750 proceeds from the sale of equipment 126,800 gain on the sale of equipment 7,350 cash dividends payable at the beginning of the year 32,450 cash dividends payable at the end of the year 39,500 net income for the year 162,250 the amount of cash paid for dividends was:

Heather has been an active participant in a defined benefit plan for 19 years. during her last 6 years of employment, heather earned $42,000, $48,000, $56,000, $80,000, $89,000, and $108,000, respectively (representing her highest-income years). calculate heather’s maximum allowable benefits from her qualified plan (assume that there are fewer than 100 participants). assume that heather’s average compensation for her three highest years is $199,700. calculate her maximum allowable benefits.