Graffiti Advertising, Inc., reported the following financial statements for the last two years. 2016 Income Statement Sales $ 567,700 Costs of goods sold 274,000 Selling and administrative 124,728 Depreciation 54,571 EBIT $ 114,401 Interest 19,406 EBT $ 94,995 Taxes 37,998 Net income $ 56,997 Dividends $ 10,100 Addition to retained earnings $ 46,897