You have been given the following information for Gunther's Coffee Shop: Net Sales = $220,000; Gross profit = $90,000; Addition to retained earnings = $28,000; Dividends paid to stockholders = $6,000; Depreciation expense = $24,000; The firm's tax rate is 34 percent. What are the cost of goods sold and the interest expense for Gunther's Coffee Shop?

CHOICES

$130,000 and $14,485 respectively

$130,000 and $34,000 respectively

$140,000 and $20,000 respectively

$180,000 and $34,000 respectively

$180,000 and $14,485 respectively