Hello,

Can you confirm is my formula looks right? I'm getting $1231

You are given the following information for Mobility Research, Inc. (MRI).

Sales$200,000Costs$105,000SG&A$20,000Interest$23,000Dividend paid$10,000Retained Earnings Added$23,000Total Assets$85,000Equity$45,000Tax Rate35%

How much was the depreciation charge for MRI? (Hint: Prepare the income statement. You will have to work backwards to find the missing data.)