Using Income Statements [LO1] Given the following information for Gandolfino Pizza Co., calculate the depreciation expense: sales $61,000; costs -$29,600; addition to retained earnings $5,600; dividends paid $1,950; interest expense- $4,300; tax rate 35 percent. Preparing a Balance Sheet [LO1] Prepare a 2015 balance sheet for Cornell Corp. based on the following information: cash = $134,000; patents and copyrights $670,000; accounts payable $210,000; accounts receivable $105,000; tangible net fixed assets = $1,730,000, inventory = $293,000; notes payable = $160,000. accumulated retained earnings = $1,453,000, long-term debt $845,000. 15. 16