Show me the steps to solve Cash

$$40,000$

Administrative expenses

$80,000$

Selling expenses

$64,000$

Net sales

$432,000$

Cost of goods sold

$168,000$

Cash dividends declared $(2025)$

$16,000$

Cash dividends paid $(2025)$

$12,000$

Discontinued operations $($loss before income taxes$)$

$32,000$

Depreciation expense, not recorded in $2024$

$24,000$

Retained earnings, December $31,2024$

$72,000$

Effective tax rate $20\%$

Compute net income for $2025$