Data for Cumberland Industries is shown in the box below. Given this information, construct Cumbebrland's income statement. Also, calculate total dividends and the addition to retained earnings.

Key Input Data for Cumberland Industries

2017

(Thousands of dollars)

Sales Revenue

$475,000

Expenses (excluding depreciation) as a percent of sales

75.0%

Net fixed assets

$85,000

Depr. as a % of net fixed assets

10.0%

Tax rate

40.0%

Interest expense

$9,000.00

Dividend Payout Ratio 50%

Cumberland Industries: Income Statement (Thousands of dollars)
Sales
Operating costs excluding depreciation
EBITDA
Depreciation (Cumberland has no amortization charges)
EBIT
Interest expense
EBT
Taxes (40%)
Net income
Common dividends
Addition to retained earnings

Please use Excel, if possible.