The company paid interest expense of $18,600 for 2014 and had an overall tax rate of 40% for 2014. Complete the statement of Statement of retained earnings. Use the data from the following financial statements in the popup window, retained earnings for 2014, and determine the dividends paid last year. The distributed earnings is $ 28,480. (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 = Data Table Partial Income Statement Year Ending 2014 Sales revenue $349,900 Cost of goods sold $141,900 Fixed costs $43,000 Selling, general, and administrative expenses $27,800 $45,800 Depreciation Partial Balance Sheet 12/31/2013 ASSETS LIABILITIES Cash $14,200 Accounts receivable $18,900 $15,800 Notes payable $27,900 Accounts payable $48,100 Long-term debt $368,000 OWNERS' EQUITY Inventories $190,200 Fixed assets $143,200 Retained earnings Accumulated depreciation (-) Intangible assets $81,900 Common stock $131,900 Partial Balance Sheet 12/31/2014 LIABILITIES ASSETS - Data Table Partial Balance Sheet 12/31/2013 ASSETS LIABILITIES Cash $14,200 $18,900 Accounts receivable $15,800 Notes payable $27,900 Accounts payable $48,100 Long-term debt $368,000 OWNERS' EQUITY Inventories $190,200 Fixed assets Accumulated depreciation (-) Intangible assets $143,200 Retained earnings $81,900 Common stock $131,900 Partial Balance Sheet 12/31/2014 ASSETS LIABILITIES Cash $12,200 Accounts receivable $26,200 Notes payable $18,800 Accounts payable $52,800 Long-term debt $24,200 Inventories $161,800 Fixed assets $447,800 OWNERS' EQUITY Accumulated depreciation (-) Retained earnings Intangible assets $81,900 Common stock $181,800