Question
Income Statement You have been given the following information for Moores HoneyBee Corp.: a. Net sales = $32,000,000. b. Gross profits = $18,700,000. c. Other
Income Statement You have been given the following information for Moores HoneyBee Corp.: a. Net sales = $32,000,000. b. Gross profits = $18,700,000. c. Other operating expenses = $2,500,000. d. Addition to retained earnings = $4,700,000. e. Dividends paid to preferred and common stockholders = $2,900,000. f. Depreciation expense = $2,800,000. The firms tax rate is 35 percent. Calculate the cost of goods sold and the interest expense for Moores HoneyBee Corp. First, write down the income statement account names, then write in information that is given.
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