Question
Horizon Technologies Inc. provided the following financial data for the year: Legal and accounting fees: $1,800,000 Office lease: $3,000,000 Interest on long-term loans: $2,500,000 Loss
Horizon Technologies Inc. provided the following financial data for the year:
Legal and accounting fees: $1,800,000
Office lease: $3,000,000
Interest on long-term loans: $2,500,000
Loss on disposal of fixed assets: $450,000
Freight in: $1,600,000
Freight out: $1,900,000
CEO and CFO salaries: $2,000,000
Comprehensive insurance: $950,000
Sales commission: $2,500,000
Research and development costs: $1,600,000
Advertising expenses: $1,700,000
The office space is used equally by the sales and finance departments.
Requirements:
Calculate the total general and administrative expenses.
Determine the total sales and marketing expenses.
Compute the total research and development expenses.
Identify non-operating expenses.
Calculate the overall total expenses for Horizon Technologies Inc.
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