18. Use the data from the following financial statements to complete the statement of retained earnings for 2020 and determine the dividends paid last year. The company paid interest expense of $ 39,000 for 2020 and had an overall tax rate of 22% for 2020. Sales revenue Cost of goods sold Fixed costs Selling, general, and administrative expenses Depreciation 1,000,000 350,000 100,000 62,000 61,000 ASSETS Cash Accounts receivable LIABILITIES 6,500 Notes payable 300,000 Accounts payable 250,000 35,000 750,000 Inventories Fixed assets Accumulated depreciation Intangible assets 100,000 Long-term debt 1,500,000 OWNERS' EQUITY 366,000 Retained earnings 50,000 Common stock 325,000 ASSETS Cash Accounts receivable Inventories Fixed assets Accumulated depreciation Intangible assets LIABILITIES 10,000 Notes payable 320,000 Accounts payable 95,000 Long-term debt 1,600,000 OWNERS' EQUITY Retained earnings 45,000 Common stock 225,000 40,000 725,000 325,000