You have been given the following information for Moore’s HoneyBee Corp.: a. Net sales = $34,000,000. b. Gross profit = $18,400,000. c. Other operating expenses = $2,400,000. d. Addition to retained earnings = $4,400,000. e. Dividends paid to preferred and common stockholders = $2,400,000. f. Depreciation expense = $2,850,000. The firm’s tax rate is 32 percent.
1. Calculate the cost of goods sold and the interest expense for Moore’s HoneyBee Corp.
Cost of goods sold $
Interest expense $