Sales $ $32,100,000$

Costs $26,512,400$

Taxable income $ $5,587,600$

Taxes $1,955,660$

Net income $ $3,631,940$

Dividends $ $1,452,776$

Addition to retained earnings $2,179,164$

BALANCE SHEET

Assets Liabilities and Equity

Current assets $ $7,370,000$ Short$-$term debt $ $7,383,000$

Fixed assets $18,952,000$ Long$-$term debt $5,162,750$

Common stock $ $1,707,250$

Accumulated retained earnings $12,069,000$

Total equity $ $13,776,250$

Total assets $ $26,322,000$ Total liabilities and equity $ $26,322,000$