Question
Pharrell, Inc., has sales of $589,000, costs of $269,000, depreciation expense of $69,000, interest expense of $36,000, and a tax rate of 35 percent. The
Pharrell, Inc., has sales of $589,000, costs of $269,000, depreciation expense of $69,000, interest expense of $36,000, and a tax rate of 35 percent. The firm paid out $38,000 in cash dividends.
What is the addition to retained earnings? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)
Addition to retained earnings?
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Practical Financial Management
Authors: William R. Lasher
6th Edition
1439080496, 978-1439080498
