Presented below are selected ledger accounts of Nash SA as of December 31, 2022. Cash 41,000 Administrative expenses 82,000 Selling expenses 65,600 Net sales 442,800 Cost of goods sold 213,200 Cash dividends declared (2022) 16,400 Cash dividends paid (2022) 12,300 Discontinued operations (loss before income taxes) 32,800 Depreciation expense, not recorded in 2021 24,600 Retained earnings, December 31, 2021 73,800 Effective tax rate 30%