Gia, Inc., has sales of $497,000, costs of $276,000, depreciation expense of $43,000, interest expense of $24,000,

Question:

Gia, Inc., has sales of $497,000, costs of $276,000, depreciation expense of $43,000, interest expense of $24,000, and a tax rate of 21 percent. What is the net income for the firm? Suppose the company paid out $30,000 in cash dividends. What is the addition to retained earnings?

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