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Cash $52,900
Administrative expenses 104,500
Selling expenses 84,400
Net sales 556,200
Cost of goods sold 265,000
Cash dividends declared (2012) 21,300
Cash dividends paid (2012) 19,700
Discontinued operations (loss before income taxes) 44,500
Depreciation expense, not recorded in 2011 31,600
Retained earnings, December 31, 2011 96,800
Effective tax rate 30%

Compute net income for 2012


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