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During the year 2005, IBM Company had sales of $10,000, cost of goods sold of 4000, depreciation of $1000, and interest paid of $1500. Using

During the year 2005, IBM Company had sales of $10,000, cost of goods sold of 4000, depreciation of $1000, and interest paid of $1500. Using a 25% corporate tax rate, and assuming all taxes are paid the year they are due, construct IBMs income statement for year 2005--following the GAAP rule. Given a retention ratio of 40%, what is the total dividend and amount retained for reinvestment

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