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XYZ reports the following amounts in its year end income statement: Net sales 700,000 Salaries & Wages 240,400 Interest expense 13,200 Utilities expense 21,200 Cost of goods sold 385,940 Sales discounts 3,850 Advertising expense 25,600 Sales returns 4,150 Dividends declared at year end $5,000 Income Tax Rate 10% Instructions: Using the above information select the appropriate dollar amount for the following questions: Note: Paper, pencil, and a calculator will aid you in calculating the correct amounts. Hint: Preparing an Income Statement will help you with the answers to the questions. Give the test a try on your own; but, if you need to see the results, check out the Financial Information I prepared for you. Question . .