9. Griffin's Goat Farm, Inc., has sales of $668,000, costs of $330,000, depreciation expense of $74,000, interest expense of $47,000, a tax rate of 21 percent, and paid out $46,000 in cash dividends. 10. You are given the following information for Bowie Pizza Co.: Sales = $68,000; Costs = $31,500; Addition to retained earnings = $6,100; Dividends paid = $2,100; Interest expense = $4,800; Tax rate = 24 percent. Calculate the depreciation expense. ( (Do not round intermediate calculations.) 11. During 2018, Raines Umbrella Corp. had sales of $721,000. Cost of goods sold, administrative and selling expenses, and depreciation expenses were $448,000, $96,000, and $141,500, respectively. In addition, the company had an interest expense of $71,000 and a tax rate of 23 percent. (Ignore any tax loss carryforward provisions and assume interest expense is fully tax deductible.) What is the company's net income/ loss for 2018? (Do not round intermediate calculations. Enter your answer as a positive value.) What is the company's operating cash flow? (Do not round intermediate calculations.) 12. For the past year, Momsen, Ltd., had sales of $45,602, interest expense of $3,542, cost of goods sold of $15,959, selling and administrative expense of $11,386, and depreciation of $5,835. If the tax rate was 40 percent, what was the company's net income? 13. The tax rates for a particular year are shown below: Taxable Income Tax Rate 60 - 50,000 15% 50,001 - 75,000 25 % 75,001 - 100,000 34% 100,001 335,000 39 9% What is the average tax rate for a firm with taxable income of $122,513