You Have Been Given the Following Information for Fina's Furniture

question 102

Multiple Choice

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:

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