Higgins, Inc., has sales of $517,400, costs of $296,300, depreciation expense of $42,300, interest expense of $20,400,

Question:

Higgins, Inc., has sales of $517,400, costs of $296,300, depreciation expense of $42,300, interest expense of $20,400, and a tax rate of 21 percent. What is the net income for the firm? Suppose the company paid out $27,000 in cash dividends. What is the addition to retained earnings?

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