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Company addition to retained earnings

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ETJ had sales of $7 million this past year. Its cost of goods sold was $3.5 million and its operating expenses were $950,000. Interest expenses on outstanding debt were $800,000 and the company paid $75,000 in stock dividends. Its tax rate is 30%. What was the company's taxable income and tax liability (tax paid). What is the company's addition to retained earnings?

Reference no: EM131647371

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