Given the following information for Smashville, Inc., construct an income statement for the year: $ 234,000 $ 2,600 $ 546,000 $ 92,000 Cost of goods sold: Investment income: Net sales: Operating expense: Interest expense: 7,400 $ 12,000 Dividends: 40% Tax rate: What are retained earnings for the year? (Input all amounts as positive values.) Net income Cost of goods sold 546,000 234,000 2$ 312,000 312,000 2$ 312,000 312,000 Retained earnings 312,000 %24 %24