(Answered) Shelton inc has sales of 394000 costs of 182000

Finance

Shelton, Inc., has sales of $394,000, costs of $182,000, depreciation expense of $47,000, interest expense of $28,000, and a tax rate of 30 percent. (Do not round intermediate calculations.)

What is the net income for the firm?

Suppose the company paid out $37,000 in cash dividends. What is the addition to retained earnings?

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