FINC211

Problem 2-3 Dividends and Retained Earnings (LO 2] Pharrell, Inc., has sales of $603,000, costs of $255.000, depreciation expense of $62,000, interest expense of $29,000, and a tax rate of 30 percent. The firm paid out $45,00C in cash dividends. What is the addition to retained earnings? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g. 32 Addition to retained earnings