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Compute the net income

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Question - Presented below are selected ledger accounts of Marin Corporation as of December 31, 2017.

Cash - $57,400

Administrative expenses - 105,600

Selling expenses - 80,970

Net sales - 555,300

Cost of goods sold - 260,600

Cash dividends declared (2017) - 20,800

Cash dividends paid (2017) - 20,500

Discontinued operations (loss before income taxes) - 49,200

Depreciation expense, not recorded in 2016 - 38,100

Retained earnings, December 31, 2016 - 93,060

Effective tax rate - 30%

Required - Compute net income for 2017.

Reference no: EM132248535

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