Presented below is information related to Oriole Corp. for the year 2020. Net sales $1,534,000 Write-off of inventory due to obsolescence $94,400 Cost of goods sold 920,400 Depreciation expense omitted by accident in 2019 64,900 Selling expenses 76,700 Casualty loss 59,000 Administrative expenses 56,640 Cash dividends declared 53,100 Dividend revenue 23,600 Retained earnings at December 31, 2019 1,156,400 Interest revenue 8,260 Effective tax rate of 20% on all items