Statement of retained earnings.Use the data from the following financial statements in the popup window,

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.

The company paid interest expense of

$ 17 comma 000$17,000

for 2014 and had an overall tax rate of

40 %40%

for 2014. Complete the statement of retained earnings for2014, and determine the dividends paid last year.

The distributed earnings is

$nothing.

(Round to the nearest dollar.)

Complete the statement of retained earnings:(Round to the nearest dollar.)

Statement of Retained Earnings
Year Ending December 31, 2014
Beginning balance	$
Add net income	$
Subtract dividends	$
Ending balance	$

Partial Income Statement Year Ending 2014
Sales revenue	$350,000
Cost of goods sold	$141,900
Fixed costs	$42,900
Selling, general, and administrative expenses	$28,200
Depreciation	$46,200

Partial Balance Sheet 12/31/2013
ASSETS		LIABILITIES
Cash	$15,900	Notes payable	$13,900
Accounts receivable	$28,100	Accounts payable	$19,100
Inventories	$47,800	Long-term debt	$190,200
Fixed assets	$367,900	OWNERS' EQUITY
Accumulated depreciation (-)	$142,800	Retained earnings
Intangible assets	$82,200	Common stock	$131,800

Partial Balance Sheet 12/31/2014
ASSETS		LIABILITIES
Cash	$26,100	Notes payable	$12,100
Accounts receivable	$19,200	Accounts payable	$23,800
Inventories	$52,800	Long-term debt	$161,900
Fixed assets	$448,200	OWNERS' EQUITY
Accumulated depreciation (-)		Retained earnings
Intangible assets	$82,100	Common stock	$182,000