Shelton, Inc., has sales of $389,000, costs of $177,000, depreciation expense of $42,000, interest expense of $23,000, and a tax rate of 35 percent. (Do not round intermediate calculations.)
What is the net income for the firm?
Net income $
Suppose the company paid out $32,000 in cash dividends. What is the addition to retained earnings?
Addition to retained earnings $