Question: QUESTION 4 Using the Income Statement below, what is the Retention Ratio? Sales Cost of Goods Sold Gross Profit Depreciation Earnings before Interest and Taxes

QUESTION 4 Using the Income Statement below, what is the Retention

QUESTION 4 Using the Income Statement below, what is the Retention Ratio? Sales Cost of Goods Sold Gross Profit Depreciation Earnings before Interest and Taxes Interest expense Taxable Income Taxes Net Income Dividends Paid $28,400 21.200 $7,200 2,700 $4,500 850 $3,650 1,400 2,250 $1,357 (NOTE: State your answer in percentage format with two decimal places)

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