Question
Infinity Solutions reported the following financial data for the current year: Legal and consulting fees: $1,900,000 Office rent: $3,300,000 Interest on long-term debt: $2,400,000 Loss
Infinity Solutions reported the following financial data for the current year:
Legal and consulting fees: $1,900,000
Office rent: $3,300,000
Interest on long-term debt: $2,400,000
Loss on sale of fixed assets: $400,000
Freight in: $1,400,000
Freight out: $2,000,000
CEO and CFO compensation: $2,200,000
Business insurance: $1,000,000
Sales commission: $2,600,000
Research and development: $1,300,000
Advertising expenses: $1,700,000
The office space is utilized equally by the sales and administrative departments.
Requirements:
Compute the total general and administrative expenses.
Determine the total sales and marketing expenses.
Calculate the total research and development expenses.
Identify non-operating expenses.
Calculate the overall total expenses for Infinity Solutions.
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