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You have been given the following information for Moore's HoneyBee Corp.:
Net sales = $35,000,000.Gross profit = $18,500,000.Other operating expenses = $2,500,000.Addition to retained earnings = $4,500,000.Dividends paid to preferred and common stockholders = $2,500,000.Depreciation expense = $2,860,000.
The firm's tax rate is 30 percent.
Problem 1: Calculate the cost of goods sold and the interest expense for Moore's HoneyBee Corp.
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