Question 22.

Huntington Bancshares Incorportaed has sales revenue of $64,840, interest expense of $3,960, cost of goods sold of $25,840, dividends paid of $5,200, and administrative expense (operating expense) of $7,040. The combined federal and state income tax rate is 22 percent for the economy.

What is the addition to retained earnings?

A. $20,700

B. $16,359

C. $18,091

D. $15,002