Griffin's Goat Farm, Inc., has sales of $667,000, costs of $329,000, depreciation expense of $73,000, interest expense of $46,500, a tax rate of 25 percent, and paid out $47,000 in cash dividends. What is the addition to retained earnings? (Do not round intermediate calculations.) Addition to retained earnings
Griffin's Goat Farm, Inc., has sales of $667,000, costs of $329,000, depreciation expense of $73,000, interest expense of $46,500, a tax rate of 25 percent, and paid out $47,000 in cash dividends. What is the addition to retained earnings? (Do not round intermediate calculations.) Addition to retained earnings
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:Griffin's Goat Farm, Inc., has sales of $667,000, costs of $329,000, depreciation expense
of $73,000, interest expense of $46,500, a tax rate of 25 percent, and paid out $47,000
in cash dividends.
What is the addition to retained earnings? (Do not round intermediate calculations.)
Addition to retained earnings
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