The MME Company produces and sells bicycles. In 2015 the company sold 48,100 bicycles for $68 .25 each. Direct labor is $22.55 per bicycle and material is $24.75. In addition, $128,050 was paid for indirect labor and $26,000 was paid for utilities. The company has outstanding debt of $650,000 at an average interest rate of 15%. The corporate tax rate is 38%. Last year the net income for the MME Company was $350,000.
a. Calculate the depreciation expense for 2015.
b. How much money (cash) does the company have?