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Problem 2 - 2 1 Income Statement ( LG 2 - 1 ) You have been given the following information for Moore's HoneyBee Corporation: a

Problem 2-21 Income Statement (LG2-1)
You have been given the following information for Moore's HoneyBee Corporation:
a. Net sales =$32,000,000.
b. Gross profit =$18,200,000.
c. Other operating expenses =$2,200,000.
d. Addition to retained earnings =$7,280,000.
e. Dividends paid to preferred and common stockholders =$2,200,000.
f. Depreciation expense =$2,830,000.
The firm's tax rate is 21 percent. The firm's interest expense is all tax deductible.
Calculate the cost of goods sold and the interest expense for Moore's HoneyBee Corporation.
Note: Round your answers to the nearest dollar amount.
Answer is complete but not entirely correct.
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