Use the data from the following financial statements in the popup window,

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. The company paid interest expense of

$ 18 comma 700$18,700

for

20172017

and had an overall tax rate of

40 %40%

for

20172017.

Complete the statement of retained earnings for

20172017,

and determine the dividends paid last year.

The distributed earnings is

$nothing

Partial Income Statement Year Ending 2017
Sales revenue	$350,200
Cost of goods sold	$142,000
Fixed costs	$43,000
Selling, general, and administrative expenses	$28,100
Depreciation	$46,100

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Partial Balance Sheet 12/31/2016
ASSETS		LIABILITIES
Cash	$15,800	Notes payable	$13,800
Accounts receivable	$27,800	Accounts payable	$19,100
Inventories	$47,800	Long-term debt	$189,900
Fixed assets	$368,000	OWNERS' EQUITY
Accumulated depreciation (-)	$141,500	Retained earnings
Intangible assets	$82,100	Common stock	$131,900

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Partial Balance Sheet 12/31/2017
ASSETS		LIABILITIES
Cash	$26,000	Notes payable	$12,200
Accounts receivable	$19,100	Accounts payable	$24,000
Inventories	$52,900	Long-term debt	$161,800
Fixed assets	$447,900	OWNERS' EQUITY
Accumulated depreciation (-)		Retained earnings
Intangible assets	$81,900	Common stock	$182,000

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