Computing Financial Statement Measures The following pretax amounts are taken from the accounting records of Mastery Inc. on December 31, its annual year-end. Assume that the income tax rate for all items is 25%. The average number of common shares outstanding during the year was 20,000. Balance, retained earnings, December 31, prior year $ 90,000 Sales revenue 600,000 Cost of goods sold 210,000 Selling expenses 72,000 Administrative expenses 68,000 Gain on sale of investments 20,000 Unrealized holding gain on debt investments, net of tax 8,500 Prior period adjustment, understatement of depreciation from prior year 40,000 Dividends declared and paid 32,000 Required Compute the following amounts for the current year-end financial statements. Do not use