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Given the following information for Sookies Cookies Co., calculate the depreciation expense: sales = $90,033; costs = $67,790; addition to retained earnings = $1,272; dividends
Given the following information for Sookies Cookies Co., calculate the depreciation expense: sales = $90,033; costs = $67,790; addition to retained earnings = $1,272; dividends paid = $624; interest expense = $1,788; tax rate = 30 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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