The financial records of Leon Paul Inc. were destroyed by fire at the end of $2025.$ Fortunately the controller had kept certain statistical data related to the income statement as presented below.

$$The beginning merchandise inventory was $$184,000$ and decreased $20\%$ during the current year.

$$ Sales discounts amount to $$34,000.$

$3.$

$20,000$ shares of common stock were outstanding for the entire year.

$$Interest expense was $$40,000.$

$$The income tax rate is $30\%.$

$$Cost of goods sold amounts to $$1,000,000.$

$$Administrative expenses are $20\%$ of cost of goods sold but only $8\%$ of gross sales.$$Four$-$fifths of the operating expenses relate to sales activities. Operating expenses consist of selling and administrative

$$expenses$.$