You are given the following information for Sookie’s Cookies Co.: sales = $51,700; costs = $39,100;...

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You are given the following information for Sookie’s Cookies Co.: sales = $51,700; costs = $39,100;...

You are given the following information for Sookie’s Cookies Co.: sales = $51,700; costs = $39,100; addition to retained earnings = $2,925; dividends paid = $960; interest expense = $1,510; tax rate = 30 percent.

Calculate the depreciation expense for the company. (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)

Depreciation expense $

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Answer 1

Answer #1

Sales	51700
Less:costs	39100
Less:depreciation expense(balance)(51700-39100-$7060)	$5540.
EBIT($5550+1510)	$7060
Less:interest expense	1510
EBT(100%)(3885/0.7)	$5550
Less:tax@30%($5550*0.3)	$1665
Net income(70%)(2925+960)	3885
Less:dividends paid	960
Addition to retained earnings	2925

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Answer 2

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