Income Statement You Have Been Given the Following Information for Fina's

question 82

Multiple Choice

Income Statement You have been given the following information for Fina's Furniture Corp.: net sales = $25,500,000;
Cost of goods sold = $10,250,000;
Addition to retained earnings = $305,000;
Dividends paid to preferred and common stockholders = $500,000;
Interest expense = $2,000,000.
The firm's tax rate is 30 percent. What is the depreciation expense for Fina's Furniture Corp?

• A) $12,100,000
• B) $12,400,000
• C) $14,100,000
• D) $14,400,000

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Definitions:

Correspondence Bias

The tendency to attribute a person's behavior to their personality or disposition, rather than to external factors.

Stereotyping

The act of making generalized assumptions or beliefs about the characteristics of all members of a group based on simplified or standardized conceptions.

Defensive Attribution

The tendency to blame victims for their misfortune, so that one feels less likely to be victimized in a similar way.

News Account

A report or description of recent events or facts, provided by the media or a personal observation.