Pick the correct statement about the income statement items from below Multiple Choice The addition to retained earnings is equal to net income plus dividends pald Credit sales are recorded on the Income statement when the cash from the sale is collected The labor costs for producing a product are expensed when the product is sold Credit sales are recorded on the income statement when the cash from the sale is collected. The labor costs for producing a product are expensed when the product is sold Interest is a non-cash expense. Depreciation increases the marginal tax rate