Everybody's Fitness's 2021 income statement is reported below (in millions of dollars) (Use corporate tax rate...
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Everybody's Fitness's 2021 income statement is reported below (in millions of dollars) (Use corporate tax rate of 21 percent for your calculations.) Everybody's Fitness Income Statement for 2021 (in millions of dollars) $ 1,485 Net sales (all credit) Less: Cost of goods sold Gross profits Less: Other operating expenses 560 2$ 925 335 2$ 590 172 EBITDA Less: Depreciation and amortization ЕBIT 2$ 418 195 Less: Interest EBT $ 223 Less: Taxes Net income $ Determine the firm's 2021 tax liability. Tax liability $ 46,830,000 Determine the firm's 2021 net income. Net income 24 176,170,000 Determine the firm's 2021 average tax rate. (Round your answer to 2 decimal places.) Average tax rate % Determine the firm's 2021 marginal tax rate. Marginal tax rate % Everybody's Fitness's 2021 income statement is reported below (in millions of dollars) (Use corporate tax rate of 21 percent for your calculations.) Everybody's Fitness Income Statement for 2021 (in millions of dollars) $ 1,485 Net sales (all credit) Less: Cost of goods sold Gross profits Less: Other operating expenses 560 2$ 925 335 2$ 590 172 EBITDA Less: Depreciation and amortization ЕBIT 2$ 418 195 Less: Interest EBT $ 223 Less: Taxes Net income $ Determine the firm's 2021 tax liability. Tax liability $ 46,830,000 Determine the firm's 2021 net income. Net income 24 176,170,000 Determine the firm's 2021 average tax rate. (Round your answer to 2 decimal places.) Average tax rate % Determine the firm's 2021 marginal tax rate. Marginal tax rate %
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