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For the most recent year, Kalvin Corporation had sales of $400,000, cost of goods sold of $130,000, operating expenses of $50,000, and interest expenses of
For the most recent year, Kalvin Corporation had sales of $400,000, cost of goods sold of $130,000, operating expenses of $50,000, and interest expenses of 30,000. The firm has 25,000 shares outstanding and has paid an annual dividend of $1.50 per share. Assuming a 34% tax rate, how much were added to retained earnings?
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