Use the following information to solve for the question:

Sales $=$ $$40,000$;

costs of goods sold $=$ $$15,000$;

addition to retained earnings $=$ $$5,221$;

dividends paid $=$ $$1,469$;

interest expense $=$ $$1,300$;

tax rate $=20\%.$

What is the amount of the depreciation expense?

$*$Note: assume operating expenses other than costs of goods sold and depreciation are not incurred

Answer rating: 100% (QA)

We can solve for the depreciation expense using the given information and the assumption that operat... View the full answer