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Question - Presented below is information related to Farr Company.
Retained earnings, December 31, 2014 $650,000
Sales revenue 1,500,000
Selling and administrative expenses 240,000
Hurricane loss (pre-tax) on plant (extraordinary item) 290,000
Cash dividends declared on common stock 33,600
Cost of goods sold 880,000
Other revenue 120,000
Other expenses 100,000
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