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Sales are $1.5 million, cost of goods sold is $600,000, depreciation expense is $150,000, other operating expenses are $300,000, addition to retained earnings is $176,625,
Sales are $1.5 million, cost of goods sold is $600,000, depreciation expense is $150,000, other operating expenses are $300,000, addition to retained earnings is $176,625, dividends per share are $1, tax rate is 21 percent, and number of shares of common stock outstanding is 90,000. LaTonyas Flop Shops has no preferred stock outstanding.
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