Exercise 4-8 (Part Level Submission) Presented below are selected ledger accounts of Stellar Corporation as of December 31, 2017. Cash $54,000 Administrative expenses 104,600 Selling expenses 81,080 Net sales 553,800 Cost of goods sold 262,100 Cash dividends declared (2017) 21,880 Cash dividends paid (2017) 18,500 Discontinued operations (loss before income taxes) 49,000 Depreciation expense, not recorded in 2016 32,700 Retained earnings, December 31, 2016 93,060 Effective tax rate 30% (a) |XYour answer is incorrect. Try again Compute net income for 2017. Net income 74214