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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