Determine what is the addition to retained earnings

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Reference no: EM13328335

Travis, Inc., has sales of $393,000, costs of $181,000, depreciation expense of $46,000, interest expense of $27,000, and a tax rate of 30 percent.

What is the net income for the firm?

Suppose the company paid out $36,000 in cash dividends. What is the addition to retained earnings?

Reference no: EM13328335

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