Malgalen Industries Income Statement Data ($M) Revenues Total operating revenue $124 (including sales for $48 million) Total nonoperating revenue 36 Expenses Total operating expenses 70 Total nonoperating expenses 35 (interest payments) In addition, Malgalen Industries had the following entries in its balance sheet at the end of last year. Plant and equipment $15 million (less accumulated depreciation) 8 million Retained earnings 60 million We also know that taxes for the year were $7.5 million. The depreciation expenses were $2 million of the $70 million in operating expenses listed above. The firm paid no dividends this year. What is the net profit for the year? Accumulated depreciation? And retained earnings? O $47.5M; 2M; 107.5 O $47.5M; 10M; 107.5 O $55M; 2M; 115 $55M; 10M; 115