The statement of retained earnings for 2017 is

Statement of retained earnings. Use the data from the following financial statements in the popup window, : . The company paid interest expense of $18,000 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 $ (Round to the nearest dollar.) Partial Income Statement Year Ending 2017 Sales revenue $350,000 Cost of goods sold $140,000 Fixed costs $43,000 Selling, general, and administrative expenses $28,000 Depreciation $46,000 Partial Balance Sheet 12/31/2016 ASSETS LIABILITIES Cash $16,000 Notes payable $14,000 Accounts receivable $28,000 Accounts payable $19,000 Inventories $48,000 Long-term debt $190,000 $368,000 OWNERS' EQUITY Fixed assets Accumulated depreciation (-) $142,000 Retained earnings Intangible assets $82,000 Common stock $130,000 Partial Balance Sheet 12/31/2017 ASSETS LIABILITIES Cash $26,000 Notes payable Accounts receivable $12,000 $24,000 $162,000 $19,000 Accounts payable $53,000 Long-term debt $448,000 OWNERS' EQUITY Inventories Fixed assets Accumulated depreciation (-) Retained earnings Intangible assets $82,000 Common stock $180,000