(Answered) Shelton inc has sales of 389000 costs of 177000

Management Studies

Shelton, Inc., has sales of $389,000, costs of $177,000, depreciation expense of $42,000, interest expense of $23,000, and a tax rate of 35 percent. (Do not round intermediate calculations.)

What is the net income for the firm?
Suppose the company paid out $32,000 in cash dividends. What is the addition to retained earnings?

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