DATA:

Partial Income Statement Year Ending 2017

Sales revenue 350,100 Cost of goods sold 141,900 Fixed costs 43,100 Selling, general, and administrative expenses 28,000 Depreciation 46,200

Partial Income Statement Year Ending 2017

ASSETS LIABILITIES Cash 16,200 Notes payable 14,000 Accounts receivable 27,900 Accounts payable 19,100 Inventories 48,000 Long-term debt 190,000 Fixed assets 368,000 OWNERS' EQUITY Accumulated depreciation 140,300 Retained earnings Intangible assets 82,000 Common stock 131,800

Partial Balance Sheet 12/31/2017

ASSETS LIABILITIES Cash 26,100 Notes payable 12,200 Accounts receivable 19,000 Accounts payable 24,200 Inventories 53,100 Long-term debt 162,100 Fixed assets 447,900 OWNERS' EQUITY Accumulated depreciation Retained earnings Intangible assets 81,900 Common stock 181,900

Statement of retained earnings. Use the data from the following financial statements in the popup window. The company paid interest expense of $17,600 for 2017 and had an overall tax rate of 40% for 2017. Complete the statement of retained earnings for 2017, and determine the dividends paid last year. The distributed earnings is $ (Round to the nearest dollar.) Complete the statement of retained earnings: (Round to the nearest dollar.) Statement of Retained Earnings Year Ending December 31, 2017 Beginning balance 44 Add net income Subtract dividends Ending balance $ 69 $