A firm's income statement included the following data. The firm's average tax rate was 20%. Cost...
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A firm's income statement included the following data. The firm's average tax rate was 20%. Cost of goods sold Income taxes paid Administrative expenses Interest expense Depreciation a. What was the firm's net income? b. What must have been the firm's revenues? c. What was EBIT? 75,997,600 95,014,750 95,000,150 $ 8,400 $ 2,400 Answer is complete but not entirely correct. $ a. Net income b. Revenues c. EBIT $ $3,400 $ 1,400 $ 1,400 $ A firm's income statement included the following data. The firm's average tax rate was 20%. Cost of goods sold Income taxes paid Administrative expenses Interest expense Depreciation a. What was the firm's net income? b. What must have been the firm's revenues? c. What was EBIT? 75,997,600 95,014,750 95,000,150 $ 8,400 $ 2,400 Answer is complete but not entirely correct. $ a. Net income b. Revenues c. EBIT $ $3,400 $ 1,400 $ 1,400 $
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To find the correct answers lets calculate each part step by step a Net Income Net Income Earnings B... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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