Net sales 1300000
Cost of good sold 780000
Selling expenses 65000
Administrative expenses 48000
Dividend revenue 20000
Interest revenue 1000
Write-off inventory due to obsolescence 80000
Depreciation expense omitted by accident in 2006 55000
Casually loss (extraordinary item ) before taxes 50000
Cash dividends declared 45000
Retained earnings at December 31 ,2006 effecting tax rate of 34% on all items 980000
