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What is the depreciation expense in this problem and how do I get it? Thank you. You have been given the following information for Corkys
What is the depreciation expense in this problem and how do I get it? Thank you.
You have been given the following information for Corkys Bedding Corp.: |
a. | Net sales = $12,600,000. |
b. | Cost of goods sold = $9,200,000. |
c. | Other operating expenses = $280,000. |
d. | Addition to retained earnings = $1,010,000. |
e. | Dividends paid to preferred and common stockholders = $390,000. |
f. | Interest expense = $970,000. |
The firms tax rate is 30 percent. |
Calculate the depreciation expense for Corkys Bedding Corp. |
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