Andersen's Nursery has sales of $318,400, CoGS of $199,400, depreciation expense of $28,600, interest expense of $1,100, and a tax rate of 35 percent. The firm paid out $23,400 in dividends. What is the addition to retained earnings?
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Smith buys and sells securities. On December 15, 2018, Smith purchased $507,000 of Jones shares and elected the fair value option to account for the Jones investment. As of December 31, 2018, the Jones shares had a fair value of $606,000.
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