The company paid interest expense of $18,000 for 2017 and had an overall tax rate of 40% for 2017. Complete the statement of Statement of retained earnings. Use the data from the following financial statements in the popup window, retained earnings for 2017 and determine the dividends paid last year. The distributed earnings is $28,560 (Round to the nearest dollar.) Homework neden on....4 Data table K rate o data from ne divider (Click on the following icon in order to copy its contents into a spreadsheet.) Partial Income Statement Year Ending 2017 Sales revenue $350,000 ind to the Cost of goods sold $140,000 Fixed costs $43,000 $28,000 Selling, general, and administrative expenses Depreciation $46,000 (Click on the following icon in order to copy its contents into a spreadsheet.) Partial Balance Sheet 12/31/2016 ASSETS LIABILITIES Cash $14,000 Accounts receivable $19,000 Inventories $190,000 $16,000 Notes payable $28,000 Accounts payable $48,000 Long-term debt $368,000 OWNERS' EQUITY $142,000 Retained earnings $82,000 Common stock Fixed assets Accumulated depreciation (-) Intangible assets $130,000 (Click on the following icon in order to copy its contents into a spreadsheet.) Partial Balance Sheet 12/31/2017 ASSETS LIABILITIES Cash $26,000 Notes payable $12,000 Homework Nauden a n-n-4 Data table K rate o data from ne divider $28,000 Selling, general, and administrative expenses Depreciation $46,000 nd to the (Click on the following icon in order to copy its contents into a spreadsheet.) Partial Balance Sheet 12/31/2016 ASSETS LIABILITIES Cash $16,000 Notes payable $28,000 Accounts payable $14,000 $19,000 Accounts receivable Inventories $190,000 $48,000 Long-term debt $368,000 OWNERS' EQUITY Fixed assets Accumulated depreciation (-) $142,000 Retained earnings Intangible assets $82,000 Common stock $130,000 (Click on the following icon in order to copy its contents into a spreadsheet.) Partial Balance Sheet 12/31/2017 ASSETS LIABILITIES Cash Accounts receivable $26,000 Notes payable $19,000 Accounts payable $12,000 $24,000 Inventories $53,000 Long-term debt $162,000 $448,000 OWNERS' EQUITY Fixed assets Accumulated depreciation (-) Intangible assets Retained earnings $82,000 Common stock $180,000