Building an Income Statement: Ragsdale, Inc., has sales of $493.000, costs of $210,000, depreciation expense of $35,000, interest expense of $19,000,…

Building an Income Statement: Ragsdale, Inc., has sales of $493.000, costs of $210,000, depreciation expense of $35,000, interest expense of $19,000, and a tax of 35 percent. What is the net income for the firm? Suppose the company paid out $50,000 in cash dividends. What is the addition to retained earnings?

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