You are given the following information for Bowie Pizza Co.: Sales = $79,000; Costs = $33,700;...

Question

Question

You are given the following information for Bowie Pizza Co.: Sales = $79,000; Costs = $33,700; Addition to retained earnings

Answer 1

Answer #1

Sales	79,000
Less:costs	33700
Less:depreciation expense(balance)(79000-33700-18740)	$26560
EBIT(12840+5900)	18740
Less:interest expense	5900
EBT(100%)(9630/0.75)	12840
Less:tax@25%(12840*25%)	3210
Net income(75%)(7200+2430)	9630
Less:dividends	2430
Addition to retained earnings	7200

Answer 2

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