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Given the following information for Smashville, Inc., construct an income statement for the year: ...

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Finance

Given the following information for Smashville, Inc., construct an income statement for the year:

Cost of goods sold: $224,000
Investment income: $2,400
Net sales: $489,000
Operating expense: $90,000
Interest expense: $7,400
Dividends: $15,000
Tax rate: 21 %

What are retained earnings for the year? (Input all amounts as positive values.)

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