Question: Nova Tech Inc. provided the following expense data for the current year: Legal and accounting fees: $1,600,000 Office lease: $2,900,000 corporate bonds: $2,500,000 Loss on

Nova Tech Inc. provided the following expense data for the current year:

Legal and accounting fees: $1,600,000

Office lease: $2,900,000

corporate bonds: $2,500,000

Loss on disposal of fixed assets: $450,000

Freight in: $1,600,000

Freight out: $1,900,000

CEO and CFO salaries: $2,100,000

Comprehensive insurance: $1,000,000

Sales commission: $2,700,000

Research and development costs: $1,400,000

Advertising expenses: $1,800,000

The office space is used equally by the sales and finance departments.

Requirements:

Calculate the total general and administrative expenses.

Determine the total sales and marketing expenses.

Compute the total research and development expenses.

Identify non-operating expenses.

Calculate the overall total expenses for Nova Tech Inc.

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