Cash $58,000 Administrative expenses 116,000 Selling expenses 92,800 Net sales 626,400 Cost of goods sold 243,600 Cash dividends declared (2025) 23,200 Cash dividends paid (2025) 17,400 Discontinued operations (loss before income taxes) 46,400 Depreciation expense, not recorded in 2024 34,800 Retained earnings, December 31, 2024 104,400 Effective tax rate 20% (a) Compute net income for 2025.