Answer:
The $1,000,000 is the dividend amount which were paid to shareholders during the year
Explanation:
The computation of the dividend paid is shown below
As we know that,
The ending balance of retained earning = Beginning balance of retained earnings + net income - dividend paid
So
$770,000,000 = $716,000,000 + $55,000,0000 - dividend paid
$770,000,000 = $771,000,000 - dividend paid
So, dividend paid = $1,000,000
