Burlington Exterminators Inc. has sales of $734,000, costs of $315,000, depreciation expense of $48,000, interest expense...

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Burlington Exterminators Inc. has sales of $734,000, costs of $315,000, depreciation expense of $48,000, interest expense of

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Answer 1

Answer #1

ADDITION TO RETAINED EARNINGS

Particulars	$
Sales	734,000
Less: Expenses
Cost of goods sold	315,000
Depreciation	48,000
Interest expense	35,000
Net Income before tax	336,000
Less: Tax @ 35%	117,600
Net Income after tax	218,400
Less: Cash Dividends	85,000
Addition to retained earnings	133,400

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