Enter your answers into the box below. Make sure you label your answers using $1,2,...,$ etc. You many wish to provide your work for partial credit if your work is partially correct and answer is incorrect. No partial credit will be given if your answer is incorrect and you do not show your work. $1$

Firm ABC has the following:

Total revenue $$100$

Cost of goods sold $$60$

Selling & general administrative expenses $$30.$

Depreciation expense $$4$

Interest expense $$2$

Tax rate $20\%$

Dividend $$1\mathrm{.}50$

$1.$ What is gross profit?

$2.$ What is operating profit?

$3.$ What is income tax?

$4.$ What is net income?

$5.$ What is addition to retained earnings?