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Given the following information for Smashville, Inc., construct an income statement for the year: Cost of goods sold: Investment income: Net sales: Operating expense: Interest
Given the following information for Smashville, Inc., construct an income statement for the year: Cost of goods sold: Investment income: Net sales: Operating expense: Interest expense: Dividends: Tax rate: $119,000 $ 2,300 $292,000 40,000 $7,400 $ 11,000 40% What are retained earnings for the year? (Input all amounts as positive values.) Retained earnings
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