You are given the following information for Ted's Dread Co.: sales = $81,100; costs = $57,300; addition to retained earnings= $7,300; dividends paid = $3,260; interest expense = $2,970; tax rate = 24%.
Calculate the depreciation expense for the company.
Net Income = Dividends Paid + Addition to retained earnings
Net Income = $3,260 + $7,300 = $10,560
Pretax Income * (1 - Tax Rate)= Net Income
Pretax Income * (1 - 24%) = $10,560
Pretax Income = $13,894.74
EBIT = Pretax Income + Interest Expense
EBIT = Sales - Costs - Depreciation
=> Sales - Costs - Depreciation = Pretax Income + Interest Expense
=> $81,100 - $57,300 - Depreciation = $13,894.74 + $2,970
=> Depreciation = $81,100 - $57,300 - $13,894.74 - $2,970
=> Depreciation = $6,935.26
You are given the following information for Ted's Dread Co.: sales = $81,100; costs = $57,300;...
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