A. Cumberland Industriess 2010 sales were $455000000;operating costs (excluding

A. Cumberland Industriess 2010 sales were $455000000;operating costs (excluding depreciation) were equal to 85% ofsales; net fixed assets were $67000000; depreciation amounted to10% of net fixed assets; interest expenses were $8550000; thestate-plus-federal corporate tax rate was 40%; and Cumberlandpaid 25% of its net income out in dividends. Given thisinformation construct Cumberlands 2010 income statement. Alsocalculate total dividends and the addition to retained earnngs.(Hint: Start with the partial model in the file and report alldollar figures in thousands to reduce clutter.)