Question: You have been given the following information for Moores HoneyBee Corp.: a. Net sales = $32,000,000; b. Gross profits = $18,700,000; c. Other operating expenses
You have been given the following information for Moore’s HoneyBee Corp.:
a. Net sales = $32,000,000;
b. Gross profits = $18,700,000;
c. Other operating expenses = $2,500,000;
d. Addition to retained earnings = $4,700,000;
e. Dividends paid to preferred and common stockholders = $2,900,000;
f. Depreciation expense = $2,800,000.
The firm’s tax rate is 35 percent. Calculate the cost of goods sold and the interest expense for Moore’s HoneyBee Corp.
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Net sales 32000000 Less Cost of goods sold Step 1 13300000 Gross profits 18700000 Less Other operati... View full answer
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