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Given the following information for Sookies Cookies Co., calculate the depreciation expense: sales = $92,443; costs = $59,484; addition to retained earnings = $399; dividends
Given the following information for Sookies Cookies Co., calculate the depreciation expense: sales = $92,443; costs = $59,484; addition to retained earnings = $399; dividends paid = $1,793; interest expense = $1,958; tax rate = 26 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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