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MBA,MCS,M.phil
Devry University
Jan-2008 - Jan-2011
MBA,MCS,M.Phil
Devry University
Feb-2000 - Jan-2004
Regional Manager
Abercrombie & Fitch.
Mar-2005 - Nov-2010
Regional Manager
Abercrombie & Fitch.
Jan-2005 - Jan-2008
You have been given the following information for KellygirlAc€?cs Athletic Wear Corp. for the year 2015: | |
a. | Net sales = $38,200,000. |
b. | Cost of goods sold = $22,080,000. |
c. | Other operating expenses = $5,000,000. |
d. | Addition to retained earnings = $1,196,500. |
e. | Dividends paid to preferred and common stockholders = $1,908,000. |
f. | Interest expense = $1,780,000. |
g. | The firmAc€?cs tax rate is 30 percent. |
h. | In 2016, net sales are expected to increase by $9.20 million. |
i. | Cost of goods sold is expected to be 60 percent of net sales. |
j. | Depreciation and other operating expenses are expected to be the same as in 2015. |
k. | Interest expense is expected to be $2,055,000. |
l. | The tax rate is expected to be 30 percent of EBT. |
m. | Dividends paid to preferred and common stockholders will not change. |
 |  |
Calculate the addition to retained earnings expected in 2016. (Enter your answer in dollars, not millions.) |
  Addition to retained earnings | $   |
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