Question: Using the information below, what is retained earnings, operating income(EBIT), and net income? Inventory $6,500 Common Stock 45,000 Cash 16,550 Operating expenses 1,350 Short-term notes

Using the information below, what is retained earnings, operating income(EBIT), and net income?

Inventory $6,500

Common Stock 45,000

Cash 16,550

Operating expenses 1,350

Short-term notes payable 600

Interest expense 900

Depreciation expense 500

Sales 12,800

Accounts receivable 9,600

Accounts Payable 4,800

Long-term debt 55,000

Cost of goods sold 5,750

Buildings and equipment 122,000

Accumulated depreciation 34,000

Taxes 1,440

General and administrative expense 850

Retained earnings ?

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