contestada

Gia, Inc., has sales of $678,000, costs of $340,000, depreciation expense of $84,000, interest expense of $52,000, and a tax rate of 21 percent, and paid out $41,000 in cash dividends. What is the addition to retained earnings?

Respuesta :

ayokenny2001

Answer:

$118,580

Explanation:

Sales. $678,000

Less: cost of goods sold ($340,000)

Less : Depreciation exp ($84,000)

Gross profit. $254,000

Less: interest expense ($52,000)

Net income before taxes $202,000

Less: Tax rate 21% ($42,420)

Net income. $159,580

Less: dividends. ($41,000)

Retained earnings. $118,580

Otras preguntas