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 1,351,000 528,000 Cost of goods sold Cash dividends declared (2017) 49,000 39,600 101,000 Cash dividends paid (2017) Discontinued operations (loss before income taxes) Depreciation expense, not recorded in 2016 Retained earnings, December 31, 2016 Effective tax rate = 30% 75,000 223,000 Compute net income for 2017. Net income $ 1 e Textbook and Media Save for Later