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

LOADING...The company paid interest expense of $18,000 for 2017and had an overall tax rate of 40 % for 2017. Complete the statement of retained earnings for 2017, and determine the dividends paid last year.

The distributed earnings is . (Round to the nearest dollar.)

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

Statement of Retained Earnings

Year Ending December 31, 2017

Beginning balance $

Add net income $

Subtract dividends $

Ending balance $

Partial Income Statement Year Ending 2017
Sales revenue	$350,100
Cost of goods sold	$141,800
Fixed costs	$42,800
Selling, general, and administrative expenses	$28,100
Depreciation	$45,800

Partial Balance Sheet 12/31/2016
ASSETS		LIABILITIES
Cash	$16,200	Notes payable	$14,100
Accounts receivable	$27,800	Accounts payable	$18,900
Inventories	$48,200	Long-term debt	$190,100
Fixed assets	$367,900	OWNERS' EQUITY
Accumulated depreciation (-)	$140,500	Retained earnings
Intangible assets	$81,800	Common stock	$131,900

Partial Balance Sheet 12/31/2017
ASSETS		LIABILITIES
Cash	$26,000	Notes payable	$12,200
Accounts receivable	$19,000	Accounts payable	$24,000
Inventories	$53,000	Long-term debt	$161,800
Fixed assets	$448,000	OWNERS' EQUITY
Accumulated depreciation (-)		Retained earnings
Intangible assets	$82,100	Common stock	$181,800