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Here is my work need to make sure its correct. Total Sales $91,000 Cost $45,300 Less:depreciation expense $23,279 EBIT $22,421 Less:interest expense $3,850 EBT(100%) $18,571
Here is my work need to make sure its correct.
Total Sales | $91,000 |
Cost | $45,300 |
Less:depreciation expense | $23,279 |
EBIT | $22,421 |
Less:interest expense | $3,850 |
EBT(100%) | $18,571 |
Less:tax@25%(21360*25%) | $4,271 |
Net income(75%)(12800+3220) | $17,820 |
Less:Dividends | $3,520 |
Addition to retained earnings | $14,300 |
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