Mahmood Productions had sales of $843,800 and costs of $609,900. The company paid $38,200 in interest...

 

Transcribed Image Text:

Mahmood Productions had sales of $843,800 and costs of $609,900. The company paid $38,200 in interest and $35,000 in dividends. The depreciation was $76,400. The firm has a combined tax rate of 24 percent. What was the addition to retained earnings for the year? Mahmood Productions had sales of $843,800 and costs of $609,900. The company paid $38,200 in interest and $35,000 in dividends. The depreciation was $76,400. The firm has a combined tax rate of 24 percent. What was the addition to retained earnings for the year?

Answer rating: 100% (QA)

To calculate the addition to retained earnings for the year we need to subtr... View the full answer