Q: Find the distributed earnings and statement of retained earnings for 2017

Statement of retained earnings. Use the data from the following financial statements in the popup window, . The company paid interest expense of $18,800 for 2017 and had an overall tax rate of 40% for 2017. Complete the statement of retained earnings for 2017, and determine the dividends paid last year. (Click on the following icon in order to copy its contents into a spreadsheet.) Partial Income Statement Year Ending 2017 Sales revenue $350,000 Cost of goods sold $141,800 Fixed costs $42,800 Selling, general, and administrative expenses $28,200 Depreciation $45,800 (Click on the following icon in order to copy its contents into a spreadsheet.) Partial Balance Sheet 12/31/2016 ASSETS LIABILITIES Cash $15,900 Notes payable $13,800 Accounts receivable $28,000 Accounts payable $48,000 Long-term debt $19,200 $189,800 Inventories Fixed assets $368,200 OWNERS' EQUITY Accumulated depreciation (-) Intangible assets $141,900 Retained earnings $81,800 Common stock $131,900 (Click on the following icon in order to copy its contents into a spreadsheet.) Partial Balance Sheet 12/31/2017 ASSETS LIABILITIES Cash $25,800 Notes payable $12,200 Selling, general, and administrative expenses $28,200 Depreciation $45,800 (Click on the following icon in order to copy its contents into a spreadsheet.) Partial Balance Sheet 12/31/2016 ASSETS LIABILITIES Cash $13,800 Accounts receivable $15,900 Notes payable $28,000 Accounts payable $48,000 Long-term debt $19,200 $189,800 Inventories Fixed assets $368,200 OWNERS' EQUITY Accumulated depreciation (-) Intangible assets $141,900 Retained earnings $81,800 Common stock $131,900 (Click on the following icon in order to copy its contents into a spreadsheet.) Partial Balance Sheet 12/31/2017 ASSETS LIABILITIES Cash $12,200 $25,800 Notes payable $18,800 Accounts payable Accounts receivable $24,000 $161,900 Inventories $53,100 Long-term debt $448,000 OWNERS' EQUITY Fixed assets Accumulated depreciation (-) Retained earnings Intangible assets $82,000 Common stock $182,000