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Calculate the cost of goods sold and the interest expense

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Reference no: EM132836968

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.

Reference no: EM132836968

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