Answer:
$8,013
Explanation:
The computation of the amount of the depreciation expense is shown below:
The net income is
= An addition to retained earnings + cash dividend paid
= $4,221 + $469
= $4,690
Now the earning before tax
= (Net income) ÷ (1 - tax rate)
= ($4,690) ÷(1 - 0.21)
= $5,937
Now the earning before tax and interest is
= $5,937 + $1,300
= $7,237
So, the depreciation expense is
= $30,600 - $15,350 - $7,237
= $8,013
Answer:
Mixed economy - combined elements of the command and market economies
Market economy- The resources are owned and controlled by the people of the country
Economic system - The method a country uses to answer the three economic questions market economy
Traditional economy- Goods and services are produced the way it has always been done
Capitalism- The private ownership of economic resources by individuals, rather than by the government
Command economy- The resources are owned and controlled by the government command economy
