Answered step by step
Verified Expert Solution
Question
1 Approved Answer
3 Given the following information for Gandolfino Pizza Co., calculate the depreciation expense: sales = $61,000; costs = $29,600; addition to retained earnings = $5,600;
3 Given the following information for Gandolfino Pizza Co., calculate the depreciation expense: sales = $61,000; costs = $29,600; addition to retained earnings = $5,600; dividends paid = $1,950; interest expense = $4,300; tax rate = 21 percent. 4 5 6 7 8 Sales $ 61,000 Costs $ 29,600 Addition to retained earnings $ 5,600 Dividends paid $ 1,950 Interest expense 4,300 Tax rate 21% 9 10 11 12 13 14 Complete the following analysis. Do not hard code values in your calculations. NOTE: You must enter your calculations in the order numbered in Column B. 15 16 17 61,000 29,600 18 19 Income Statement 1) Sales $ 2) Costs 10) Depreciation expense EBIT 8) Interest expense 6) FRT 20 21 7 8 9 Costs $ Addition to retained earnings $ Dividends paid $ Interest expense $ Tax rate 29,600 5,600 1,950 4,300 21% 10 11 12 13 14 Complete the following analysis. Do not hard code values in your calculations. NOTE: You must enter your calculations in the order numbered in Column B. 61,000 29,600 15 16 17 18 19 20 21 22 23 24 Income Statement 1) Sales 2) Costs 10) Depreciation expense 9) EBIT 8) Interest expense 6) EBT 7) Taxes 5) Net income 25 26 27 3) 4) Dividends Addition to retained earnings $ 1,950 5,600
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started