The following combined income and retained earnings statement, along with selected balance SS sheet data, are provided for Roper Company:

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I Net sales revenue. Other revenues Roper Company Combined Income and Retained Earnings Statement For the Year Ended December 31, 2003 Total revenues. Expenses: Cost of goods sold... Selling and administrative expenses Depreciation expense. Interest expense. Total expenses Income before taxes Income taxes. Net income. Retained earnings, January 1, 2003. Dividends declared and paid... $85,000 4,500* $89,500 $51,000 14,700 3,200 1,400 70,300 $19,200 5,760 $13,440 33,500 $46,940 2,500 Retained earnings, December 31, 2003 $44,440 "Gain on sale of equipment (cost, $9,500; book value, $6,000; sales price $10,500).