Data for current year Number of X units sold Sales price per unit Cost per unit Commission (% of sales) Freight cost per unit 14,000 1,200 300 10% 300 Number of Y units sold Sales price per unit Cost per unit Commission (% of sales) Freight cost per unit Advertising per unit 17,000 12,000 600 20% 200 300 Travel expense Marketing expense Utility expense Salaries Salary overhead 195,000 67,000 14,000 525,000 30% Cost of Machine M Years to depreciate Cost of Machine N Years to depreciate 1,500,000 10 942,000 6 Tax rate 40% Dividend Payout Ratio 30% Data just prior to current year Paid In Capital Additional Paid in Capital Retained Earnings 16,000,000 117,000,000 161,000,000 2 What was Net Income? A Between 50,000,000 and 72,000,000 B Between 72,000,000 and 93,000,000 C Between 93,000,000 and 98,000,000 D Between 98,000,000 and 102,000,000 E Between 102,000,000 and 107,000,000 F Between 107,000,000 and 112,000,000 G Between 112,000,000 and 124,000,000 H Between 124,000,000 and 136,000,000