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

question 90

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

---

Definitions:

Process Information

The act of taking in, interpreting, and understanding information through cognitive processes.

Emotions

Complex psychological states that involve three distinct components: a subjective experience, a physiological response, and a behavioral or expressive response.

Nocturnal Emission

A natural phenomenon also known as a wet dream, involving involuntary ejaculation during sleep, often associated with puberty in males.

Wet Dream

An involuntary ejaculation of semen during sleep, often associated with sexual dreams, primarily occurring in adolescent males.