please explain. Thank you so much!

Homework: Cha... Part 1 of 2 190, 0.67 or points Points: 0 of 1 Save Statement of retained earnings. Use the data from the following financial statements in the popup window. The company paid interest expense of $18,000 for 2017 and had an overall tax rate of 40% for 2017. Complete the statement of retained earnings for 2017 and determine the dividends paid last year. The distributed earnings is $ (Round to the nearest dollar.) TI (Click on the following icon in order to copy its contents into a spreadsheet.) Partial Income Statement Year Ending 2017 Sales revenue $350,000 Cost of goods sold $140,000 Fixed costs $43,000 Selling, general, and administrative expenses $28,000 Depreciation $46,000 tri te con (Click on the following icon in order to copy its contents into a spreadsheet.) Partial Balance Sheet 12/31/2016 dep LIABILITIES ASSETS Cash $14,000 $19,000 Accounts receivable $190,000 come Inventories $16,000 Notes payable $28,000 Accounts payable $48,000 Long-term debt $368,000 OWNERS' EQUITY $142,000 Retained earnings $82.000 Common stock Fixed assets Accumulated depreciation (-) Intangible assets $130,000 2:06 ars to main -