Statement of Income and Retained Earnings for the Year Ended December 31, 20X1 ($ in 000) Net sales $5, 281, 954 Costs and expenses Cost of products sold 4, 765, 505 Marketing, administrative, and other expenses 193, 147 Interest expense 17, 143 Other, net 54 , 529 Total expenses before taxes 5, 030, 324 Earnings before income taxes 251 , 630 Provision for income taxes (52, 842) Net income 198 , 788 Retained earnings at 1/1/20X1 3, 046, 660 Dividends on common stock (100, 000) Retained earnings at 12/31/20X1 $3 , 145 , 448