Kamenka LLC has sales of 634,000, costs of 305,000, depreciation expense of 46,000, interest expense of...

Kamenka LLC has sales of 634,000, costs of 305,000, depreciation expense of 46,000, interest expense of 29,000 and tax rate of 35%, what is its net income? Suppose it paid dividends of 86,000, what was the addition to the retained earnings?

Expert Solution

Calculations	Particulars	Amount $
A	Sales	634,000
B	Costs	305,000
C	Depreciation	46,000
D = A-B-C	Earnings Before Interest and Taxes	283,000
E	Interest Expense	29,000
F = D - E	Earnings Before Taxes	254,000
G = F x 35%	Taxes	88,900
H = F - G	Net Income	165,100
I	Dividends	86,000
J = H - I	Retained Earnings	79,100

jeff jeffy answered 3 years ago

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