finance questions 59

1. You have given the following information for Paige’s Purses Corp:

– Net Sales = $10,750,000

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– Cost of Goods Sold = $4,250,000

– Addition to retained earnings = $1,030,000

– Dividends paid = $2,000,000

– Interest expense = $250,000

– Tax rate is 40%

What is the depreciation expense for Paige’s Purses Corp?

Please show all the solutions, thanks.