Elias Corporation, has sales of $326,500, cost of sales of $158,000, depreciation expense of $26,000, and a tax rate of 30 percent. The company also carries $250,000 of debt and paid 5% interest on the loan for the year. What is the net income for this firm? If the firm decides to distribute 60% of the firms net income as dividends, what is the addition to retained earnings for that year