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Given the following income statement data and assuming dividends are paid at 55%, calculate the addition to retained earnings; net sales = $5,600, cost of
Given the following income statement data and assuming dividends are paid at 55%, calculate the addition to retained earnings; net sales = $5,600, cost of goods sold = $2,650, operating expenses = $605, depreciation = $610, interest expense = $190, tax rate = 35%.
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