Griffin's Goat Farm, Inc., has sales of $796,000, costs of $327,000, depreciation expense of $42,000, interest expense of $34,000, a tax rate of 21 percent, and paid out $95,000 in cash dividends. What is the addition to retained earnings
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Several years ago, Cyclop Company issued bonds with a face value of $1,550,000 for $11,295,000. As a result of declining interest rates, the company has decided to call the bonds at a call premium of 5 percent over par.
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