Presented below are selected ledger accounts of Tamarisk Corporation as of December 31, 2017 Cash $ 124.000 Administrative expenses 249,000 Selling expenses 200,000 Net sales 1,351,000 Cost of goods sold 528,000 Cash dividends declared (2017) 49,000 Cash dividends paid (2017) 39,600 Discontinued operations (loss before income taxes) 101,000 75,000 Depreciation expense, not recorded in 2016 Retained earnings, December 31, 2016 223.000 Effective tax rate = 30% Your answer is incorrect. Compute net income for 2017 Net income $ | e Textbook and Media Save for Later Attempts: 8 of