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Pharrell, Inc, has sales or $589,000, costs of $269,000, depreciation expense of $69,000, interest expense or $36,000, and a tax rate of 35 percent. The
Pharrell, Inc, has sales or $589,000, costs of $269,000, depreciation expense of $69,000, interest expense or $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 References Worksheet Learning Objective: 02-02 Distinguish accounting income from cash flow. Difficulty: 1 Basic Section: 2.2 The Income Statement
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