Statement of retained earnings. Use the data from the following financial statements in the popup window. The company paid interest expense of $17,200 for 2017 and 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 $

Partial Income Statement Year Ending 2017 Sales revenue $350,000 Cost of goods sold $141,900 Fixed costs $42,900 Selling, general, and administrative expenses $28,100 Depreciation $46,200 ASSETS Cash Partial Balance Sheet 12/31/2016 LIABILITIES $16,100 Notes payable $27,900 Accounts payable $47,800 Long-term debt $367,900 OWNERS' EQUITY $140,900 Retained earnings $81,800 Common stock $14,200 $19,200 $190,200 Accounts receivable Inventories Fixed assets Accumulated depreciation (-) Intangible assets $132,000 Partial Balance Sheet 12/31/2017 LIABILITIES ASSETS $12,100 $24,000 $161,900 Cash Accounts receivable Inventories Fixed assets Accumulated depreciation (-) Intangible assets $26,100 Notes payable $18,800 Accounts payable $53,100 Long-term debt $447,900 OWNERS' EQUITY Retained earnings $81,900 Common stock $182,000