E7-6 Presented below, in alphabetical order, is information related to Wilkinson Corporation for the year 2008.

Cost of goods sold $1,499,900 Dividends on common stock 140,000 Gain on the sale of equipment 80,000 Income tax expense 150,000 Interest expense 90,000 Interest revenue 300,000 Net sales 2,156,900 Selling and administrative expenses 340,750 Wilkinson had 35,500 shares outstanding for the entire year.