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Given the following information for Sookie's Cookies Co . , calculate the depreciation expense: sales = $ 9 6 , 5 0 0 ; costs

Given the following information for Sookie's Cookies Co., calculate the depreciation expense: sales
=$96,500; costs =$55,478; addition to retained earnings =$418; dividends paid =$1,622; interest
expense =$1,699; tax rate =38 percent. (Hint: Build the Income Statement and fill in the missing
pieces until you get to the depreciation expense. You may have to work from bottom up.)
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