What was the value of depreciation expense

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Reference no: EM131976436

1. Density Farms, Inc. had sales of $500,000, cost of goods sold of $180,000, selling and administrative expense of $68,000, and operating profit of $92,000. What was the value of depreciation expense?

$158,000

$160,000

$60,000

$169,000

2. Gerry Co. has a gross profit of $920,000 and $200,000 in depreciation expense. Selling and administrative expense is $121,000. Given that the tax rate is 42 percent, compute the cash flow for Gerry Co.

$120,958

$547,420

$549,920

$720,000

Reference no: EM131976436

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