(Answered) Shelton inc has sales of 405000 costs of 193000

Management Studies

Shelton, Inc., has sales of $405,000, costs of $193,000, depreciation expense of $58,000, interest expense of $39,000, and a tax rate of 40 percent. (Do not round intermediate calculations.)

What is the net income for the firm?

Net income $

Suppose the company paid out $48,000 in cash dividends. What is the addition to retained earnings?

Addition to retained earnings

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