Exercise 4-9 Presented below is information related to Culver Corp. for the year 2017. Net sales Cost of goods sold Selling expenses Administrative expenses Dividend revenue Interest revenue $1,333,000 788,500 65,900 52,000 22,100 8,060 Write-off of inventory due to obsolescence Depreciation expense omitted by accident in 2016 Casualty loss Cash dividends declared Retained earnings at December 31, 2016 Effective tax rate of 34% on all items $81,850 48,500 51,800 42,890 926,130