During the year, Belyk Paving Co. had sales of $2,389,000. Cost of goods sold, administrative and selling expenses, and depreciation expense were $1,436,000, $436,100, and $491,100, respectively. In...

During the year, Belyk Paving Co. had sales of $2,389,000. Cost of goods sold, administrative and selling expenses, and depreciation expense were $1,436,000, $436,100, and $491,100, respectively. In addition, the company had an interest expense of $216,100 and a tax rate of 40 percent (ignore any tax loss carryback or carryforward provisions.). Belyk Paving Co. paid out $390,000 in cash dividends. Assume that no new investments were made in net fixed assets or net working capital, and no new stock was issued during the year.