Griffin's Goat Farm, Inc., has sales of $675,000, costs of $337,000, depreciation expense of $81,000, interest expense of $50,500, a tax rate of 23 percent, and paid out $42,500 in cash dividends. What is the addition to retained earnings? (Do not round intermediate calculations.) Griffin's Goat Farm, Ic., has sales of $675,000, costs of $337,000, depreciation expenseof $81,000, interest expense of $50,500, a tax rate of 23 percent, and paid out $42,500in cash dividends.What is the addition to retained earnings? (Do not round intermediate calculations.)

Addition to retain earning will be the amount remain after payment of all expenses ,taxes and…

Griffin's Goat Farm, Inc., has sales of $675,000, costs of $337,000, depreciation expense of $81,000, interest expense of $50,500, a tax rate of 23 percent, and paid out $42,500 in cash dividends. What is the addition to retained earnings? (Do not round intermediate calculations.)

Griffin's Goat Farm, Inc., has sales of $675,000, costs of $337,000, depreciation expense of $81,000, interest expense of $50,500, a tax rate of 23 percent, and paid out $42,500 in cash dividends. What is the addition to retained earnings? (Do not round intermediate calculations.)

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter6: Accounting For Financial Management

Section: Chapter Questions

Problem 3P

See similar textbooks

Related questions

Q: Groff Incorporated, has sales of $51,500, costs of $23,600, depreciation expense of $2,400, and…

A: The focus of operating cash flows is on financial inflows and outflows associated with a company's…

Q: You are given the following information for Sookie’s Cookies Co.: sales = $60000; costs = $37400;…

A: Depreciation is an accounting technique that allocates capital expense over the life of capital…

Q: Benson inc has sales of 39530, costs of 12750 depreciation expense of 2550 and interest expense of…

A: Operating cash flow refers to the cash flow generated from the core operations of the business. It…

Q: Whipporwill, Incorporated's, net income for the most recent year was $16,802. The tax rate was 21…

A: Solution:Cash coverage ratio means the ability of the firm to pay interest expense from its income…

Q: High Towers, Inc., has sales of $586,000, costs of $363,000, depreciation expense of $32,000, and…

A: The operating cash flow refers to the profits available after deducting all cost and expenses like…

Q: You are given the following information for Troiano Pizza Company: sales = $69,400; costs = $52,100;…

A: DEPRECIATION EXPENSEDepreciation means gradual decrease in value of assets due to normal wear and…

Q: Collin Krafts has sales of $820,000 and costs of $530,000. Interest expense is $35,000. The tax rate…

A: Statement of comprehensive income: It is a statement that reflects both, standard income and…

Q: You are given the following information for Troiano Pizza Company: Sales = $72,000; Costs = $32,300;…

A: Given, Troiano Pizza Company Sales = $72,000 Costs = $32.300 Addition to retained earnings = $6,500…

Q: Sidewinder, Inc., has sales of $634,000, costs of $328,000, depreciation expense of $73,000,…

A: SALES 634000 COSTS 328000 DEPRECIATION 73000 INTEREST 38000 TAX RATE 21%

Q: Barre Dance has sales of $30,600, costs of $15,350, addition to retained earnings of $4,221,…

A: Retained earnings means amount of earnings accumulated over the period of time. Earning of net…

Q: Graff, Incorporated, has sales of $51,500, costs of $23,600, depreciation expense of $2,400, and…

A: The focus of operating cash flows is on financial inflows and outflows associated with a company's…

Q: ACME Corp’s balance sheet reported that it had $650,000 in liabilities and $275,000 in equity. On…

A: Return on Assets: Return on assets (ROA), also known as return on total assets, is a measurement of…

Q: You are given the following information for Troiano Pizza Company: sales = $76,800; costs = $36,900;…

A: Income Statement :— Income Statement is Contained Detailed Information related to sales, Revenue,…

Q: FVA Inc.'s net income for the most recent year was $41,445. The tax rate was 25 percent. The firm…

A: Net income -$41,445Tax rate = 25%Interest Expense = $10,440Depreciation Expense =…

Q: Benson, Inc., has sales of $38,530, costs of $12,750, depreciation expense of $2,550, and interest…

A: SALES 38530 COSTS 12750 DEPRECIATION 2550 INTEREST 1850 TAX RATE 21%

Q: Staycate Travels Inc. reports a gross profit of $35,000, interest expense of $4,000, a tax rate of…

A: Depreciation refers to the method through which the costs of the assets is being allocated over the…

Q: You are given the following information for Bowie Pizza Co. Sales = $64,000; Costs = $30,700,…

A: Given the following information: Sales: $64,000 Costs: $30,700 Addition to retained earnings:…

Q: Helo Company has provided the following data: Sales, P5,000,000; Interest expense, P30,000; Total…

A: Net income When the revenues or incomes earned by an entity are higher than the expenses or charges…

Q: Griffin's Goat Farm, Inc., has sales of $672,000, costs of $334,000, depreciation expense of…

A: A firm or individual's net income, commonly referred to as net profit, is a financial indicator that…

Q: You are given the following information for Troy Pizza Company: Sales = $70,000; Costs = $31,900;…

A: Data given: Sales = $70,000 Costs = $31,900 Addition to retained earnings = $6,300 Dividends paid =…

Q: WayneCorp, Inc., has sales of $581, 000, costs of $244, 000, depreciation expense of $36,000,…

A: Income statement is one of financial statements prepared at the end of the period. It shows how much…

Q: Max Farm, Inc., has sales of $870,000, costs of $530,000, depreciation expense of $68,000, interest…

A: Note :- (1-t) represents the after-tax effect.

Q: Gia, Inc. has sales of $497,000, costs of $276,000, depreciation expense of $43,000, interest…

A: Net income is the amount of money a person or business has left after deducting all expenses and…

Q: Nataro, Incorporated, has sales of $674,000, costs of $336,000, depreciation expense of $80,000,…

A: Net income is an economic measure that refers to a company's earnings after all expenses, costs and…

Q: You are given the following information for Troiano Pizza Company: Sales = $66,000; Costs = $31,100;…

A: Income statement is that financial statement which is prepared in every organization. It shows the…

Q: Graff, Incorporated, has sales of $41,680, costs of $13,560, depreciation expense of $2,910, and…

A: Operating cash flow includes all cash generated by a company's main business activities.

Q: flow

A: Introduction: Operating cash flow refers to the cash flow that is being generated by the business on…

Q: You are given the following information for O'Hara Marine Co.: sales = $76,240; costs = $35,310;…

A: Depreciation is the non cash expense which is charged in the income statement. Depreciation provides…

Q: You are given the following information for Oceans of Fun.: sales = $74, 020; costs = $34, 980;…

A: In this question, we will find the following:Net incomeEarnings before taxEarnings before interest…

Q: Graff, Incorporated, has sales of $55,000, costs of $25,000, depreciation expense of $2,750, and…

A: Operating cash flow is the amount of cash flow the company is able to generate from operations.…

Q: You are given the following information for Troiano Pizza Company: sales = $84,700; costs = $58,900;…

A: Here,Sales is $84,700Costs is 58,900Addition to retained earnings is $8,100Dividends paid is…

Q: Griffin's Goat Farm, Inc., has sales of $673,000, costs of $335,000, depreciation expense of…

A: Retained earnings refer to the surplus of income earned over an accounting year. Retained earning is…

Q: Pop Evil, Inc.'s net income for the most recent year was $22,817. The tax rate was 21 percent. The…

A: Earnings before taxes = Net income / (1 - tax rate) = $22,817 / (1-0.21) = $28,882.28 Earnings…

Q: Holly Farms has sales of S509,600, costs of $448,150, depreciation expense of $36,100, and interest…

A: Here, Sales is $509,600 Costs is $448,150 Depreciation Expense is $36,100 Interest Paid is $12,400…

Q: Hailey, Inc., has sales of $24200, costs of $8800, depreciation expense of $2600, and interest…

A: Operating cash flow refers to the cash generated by the regular operating activities of a business…

Question

Griffin's Goat Farm, Inc., has sales of $675,000, costs of $337,000, depreciation expense of $81,000, interest expense of $50,500, a tax rate of 23 percent, and paid out $42,500 in cash dividends.

What is the addition to retained earnings? (Do not round intermediate calculations.)

Griffin's Goat Farm, Ic., has sales of $675,000, costs of $337,000, depreciation expense
of $81,000, interest expense of $50,500, a tax rate of 23 percent, and paid out $42,500
in cash dividends.
What is the addition to retained earnings? (Do not round intermediate calculations.)

Definition Video Definition Accounting method wherein the cost of a tangible asset is spread over the asset's useful life. Depreciation usually denotes how much of the asset's value has been used up and is usually considered an operating expense. Depreciation occurs through normal wear and tear, obsolescence, accidents, etc. Video

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1 Analysis

VIEW

Step 2 Addition to retained earning

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Similar questions

You are given the following information for Oceans of Fun.: sales = $74, 020; costs = $34, 980; addition to retained earnings 59,540; dividends paid $7,800; interest expense $2, 580; tax rate = 21 percent. Calculate the depreciation expense. (Do not round intermediate calculations.)
Barre Dance has sales of $30,600, costs of $15,350, addition to retained earnings of $4,221, dividends paid of $469, interest expense of $1,300, and a tax rate of 21 percent. What is the amount of the depreciation expense?. If you can't do with explanation pls skip and also dont do handwritten..
Gia, Inc. has sales of $497,000, costs of $276,000, depreciation expense of $43,000, interest expense of $24,000, and a tax rate of 21%. How do i calculate net income?
You are given the following information for O'Hara Marine Co.: sales = $76,240; costs = $35,310; addition to retained earnings = $9,600; dividends paid = $8,730; interest expense = $2,640; tax rate = 24 percent. Calculate the depreciation expense. (Do not round intermediate calculations.)
You are given the following information for Troiano Pizza Company: Sales = $66,000; Costs = $31,100; Addition to retained earnings = $5,900; Dividends paid = $2,040; Interest expense = $4,600; Tax rate = 22 percent. Calculate the depreciation expense. (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)
You are given the following information for Troiano Pizza Company: Sales = $72,000; Costs = $32,300; Addition to retained earnings = $6,500; Dividends paid = $2,220; Interest expense = $5,200; Tax rate = 23 percent. Calculate the depreciation expense. (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) Depreciation expense
You are given the following information for Sookie’s Cookies Co.: sales = $60000; costs = $37400; addition to retained earnings = $3100; dividends paid = $860; interest expense = $2050; tax rate = 39 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.)
You are given the following information for Troy Pizza Company: Sales = $70,000; Costs = $31,900; Addition to retained earnings = $6,300; Dividends paid = $2,160; Interest expense = $5,000; Tax rate = 21 percent. Calculate the depreciation expense. (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)
You are given the following information for Bowie Pizza Co. Sales = $64,000; Costs = $30,700, Addition to retained earnings expense = $4,400; Tax rate = 22 percent. $5/700. Dividends paid - $1.980 Interest Calculate the depreciation expense.
Question :) Staycate Travels Inc. reports a gross profit of $35,000, interest expense of $4,000, a tax rate of 30% and earning after taxes of $8,610. What is Staycate's depreciation expense
1. LaLa Land has sales of $687,000 with total other costs of $492,000. Interest expense is $26,000 and depreciation is $42,000. The tax rate is 35 percent. What is the net income?
You are given the following information for Troiano Pizza Company: sales = $76,800; costs = $36,900; addition to retained earnings = $6,800; dividends paid = $2,370; interest expense = $5,300; tax rate = 22 percent. Calculate the depreciation expense.