Building an income statement-dividends and retained earnings

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Reference no: EM131304076

Problem 1. Building an income statement. Pharrell, Inc., has sales of $634,000, costs of $328,000, depreciation expense of $73,000, interest expense of $38,000, and a tax rate of 35 percent what is the net income for this firm ?

Problem 2. Dividends and retained earnings. suppose the firm in (problem 2) paid out $43,000 in cash dividends. what is the addition to retained earnings ?

Reference no: EM131304076

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