A firm's income statement included the following data. The firm's average tax rate was 20%.
Cost of goods sold ................................... $8,000
Income taxes paid .................................... $2,000
Administrative expenses ............................ $3,000
Interest expense ...................................... $1,000
Depreciation .......................................... $1,000
a. What was the firm's net income?
b. What must have been the firm's revenues?
c. What was EBIT?