What is the net income for this firm

Reference no: EM133557637

Elias Corporation, has sales of $326,500, cost of sales of $158,000, depreciation expense of $26,000, and a tax rate of 30 percent. The company also carries $250,000 of debt and paid 5% interest on the loan for the year. What is the net income for this firm? If the firm decides to distribute 60% of the firm's net income as dividends, what is the addition to retained earnings for that year?

Reference no: EM133557637

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