Question

You have been given the following information for Corky’s Bedding Corp.: Net sales = $12,250,000. Cost of goods sold = $8,900,000. Other operating expenses = $250,000. Addition to retained earnings = $1,060,000. Dividends paid to preferred and common stockholders = $375,000. Interest expense = $940,000. The firm’s tax rate is 30 percent. Calculate the depreciation expense for Corky’s Bedding Corp.

Answer 1

Answer:

Explanation:

Depreciation expense$ 110,000