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Statement of retained earnings. Use the data from the following financial statements in the popup window, B. The company paid interest expense of $18,900 for 2017 and had an overall tax rate of 40% for 2017. Complete the statement of retained earnings for 2017, and determine the dividends paid last year. The distributed earnings is $ 27,840. (Round to the nearest dollar.) Complete the statement of retained earnings: (Round to the nearest dollar.) Statement of Retained Earnings Year Ending December 31, 2017 Beginning balance $ TA Add net income Subtract dividends FA $ $ Ending balance Partial Income Statement Year Ending 2017 Sales revenue $349,900 Cost of goods sold $142,000 Fixed costs $42,900 $28,000 Selling, general, and administrative expenses Depreciation $46,200 (Click on the following icon in order to copy its contents into a spreadsheet.) Partial Balance Sheet 12/31/2016 ASSETS LIABILITIES Cash $16,000 Notes payable $27,900 |Accounts payable $13,800 $18,900 Accounts receivable Inventories $190,100 $47,800|Long-term debt $367,800 OWNERS' EQUITY Fixed assets Accumulated depreciation (-) $141,100 Retained earnings Intangible assets $82,000 Common stock $132,000 (Click on the following icon in order to copy its contents into a spreadsheet.) Partial Balance Sheet 12/31/2017 ASSETS LIABILITIES Cash $26,200 Notes payable $11,800 $24,100 Accounts receivable $18,800|Accounts payable Inventories $161,800 $53,000 Long-term debt $447,900 OWNERS' EQUITY Fixed assets Accumulated depreciation (-) Retained earnings Intangible assets $81,900 Common stock $181,900

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