ou have been given the following information for Moore’s HoneyBee Corp.:  Net sales = $44,000,000. Gross profit = $19,400,000. Other operating expenses = $3,400,000. Addition to retained earnings = $8,328,000. Dividends paid to preferred and common stockholders = $2,100,000. Depreciation expense = $2,000,000.  The firm’s tax rate is 21 percent. The firm's interest expense is all tax deductible.Calculate the cost of goods sold and the interest expense for Moore’s HoneyBee Corp. (Round your answers to the nearest dollar amount.)       Cost of goods sold   Interest expense

Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter5: The Income Statement And The Statement Of Cash Flows
Section: Chapter Questions
Problem 1RE: Brandt Corporation had sales revenue of 500,000 for the current year. For the year, its cost of...
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ou have been given the following information for Moore’s HoneyBee Corp.:
 

  1. Net sales = $44,000,000.

  2. Gross profit = $19,400,000.

  3. Other operating expenses = $3,400,000.

  4. Addition to retained earnings = $8,328,000.

  5. Dividends paid to preferred and common stockholders = $2,100,000.

  6. Depreciation expense = $2,000,000.

 
The firm’s tax rate is 21 percent. The firm's interest expense is all tax deductible.

Calculate the cost of goods sold and the interest expense for Moore’s HoneyBee Corp. (Round your answers to the nearest dollar amount.)

 
 
 
Cost of goods sold  
Interest expense  
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