Partial Income Statement Year Ending 2014 Sales revenue $350,200 Cost of goods sold $141,800 Fixed costs...

Partial Income Statement Year Ending 2014
Sales revenue	$350,200
Cost of goods sold	$141,800
Fixed costs	$43,200
Selling, general, and administrative expenses	$28,100
Depreciation	$45,900

Partial Balance Sheet 12/31/2013
ASSETS		LIABILITIES
Cash	$15,900	Notes payable	$14,100
Accounts receivable	$27,900	Accounts payable	$18,900
Inventories	$48,000	Long-term debt	$190,100
Fixed assets	$368,000	OWNERS' EQUITY
Accumulated depreciation (-)	$141,500	Retained earnings
Intangible assets	$82,000	Common stock	$131,800

Partial Balance Sheet 12/31/2014
ASSETS		LIABILITIES
Cash	$26,200	Notes payable	$11,800
Accounts receivable	$18,900	Accounts payable	$24,100
Inventories	$52,800	Long-term debt	$162,000
Fixed assets	$447,800	OWNERS' EQUITY
Accumulated depreciation (-)		Retained earnings
Intangible assets	$81,800	Common stock	$182,000

The company paid interest expense of $18,300 for 2014 and had an overall tax rate of 40% for 2014. Complete the statement of retained earnings for? 2014, and determine the dividends paid last year.

Expert Solution

jeff jeffy answered 2 years ago

Partial Income Statement Year Ending 2014 Sales revenue $350,200 Cost of goods sold $142,000 Fixed costs...

Partial Income Statement Year Ending 2014 Sales revenue $350,200 Cost of goods sold $142,000 Fixed costs $43,000 Selling, general, and administrative expenses $27,800 Depreciation $46,000 Partial Balance Sheet 12/31/2013 ASSETS LIABILITIES Cash $15,800 Notes payable $14,100 Accounts receivable $28,200 Accounts payable $19,200 Inventories $47,900 Long-term debt $189,800 Fixed assets $368,100 OWNERS' EQUITY Accumulated depreciation $140,200 Retained earnings Intangible assets $82,000 Common stock $131,800 Partial Balance Sheet 12/31/2014 ASSETS LIABILITIES Cash $25,900 Notes payable $12,200 Accounts receivable $19,100 Accounts payable $23,900...

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