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Question(s) / Instruction(s):

AE4-2 (Income Statement Items) Presented below are certain account balances of Paczki Products Co. Rental revenue $6,770 Sales discounts $7,950 Interest expense 12,970 Selling expenses 99,740 Beginning retained earnings 114,580 Sales 391,120 Ending retained earnings 134,250 Income tax 31,350 Dividend revenue 72,710 Cost of goods sold 185,950 Sales returns 12,770 Administrative expenses 83,310 From the foregoing, compute the following in a periodic inventory environment: (a) total net revenue, (b) net income, (c) dividends declared during the current year.

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