In: Finance
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.