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Given the following information for Sookies Cookies Co., calculate the depreciation expense: sales = $95,760; costs = $60,070; addition to retained earnings = $1,109; dividends
Given the following information for Sookies Cookies Co., calculate the depreciation expense: sales = $95,760; costs = $60,070; addition to retained earnings = $1,109; dividends paid = $492; interest expense = $427; tax rate = 36 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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