(Answered) Shelton inc has sales of 391000 costs of 179000

Management Studies

Shelton, Inc., has sales of $391,000, costs of $179,000, depreciation expense of $44,000, interest expense of $25,000, and a tax rate of 40 percent.(Do not round intermediate calculations.)

What is the net income for the firm?

Suppose the company paid out $34,000 in cash dividends. What is the addition to retained earnings?

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