Lifeline, Inc., has sales of $593,000, costs of $265,000, depreciation expense of $67,000, interest expense of $34,000, and a tax rate of 35 percent. The firm paid out $40,000 in cash dividends. Required: What is the addition to retained earnings? (Do not include the dollar sign ($).) Addition to retained earnings $

Lifeline, Inc., has sales of $593,000, costs of $265,000, depreciation expense of $67,000, interest expense of $34,000, and a tax rate of 35 percent. The firm paid out $40,000 in cash dividends.

Required:

What is the addition to retained earnings? (Do not include the dollar sign ($).)

Addition to retained earnings

$