A firm's income statement includes the following data. The firm's average tax rate was 20%. No depreciation is included in cost of goods sold or administrative expenses.
Cost of goods sold......................$8,000
Income taxes..............................2,000
Administrative expenses.................3,000
Interest expense...........................1,000
Depreciation..............................1,000
a. What was the firm's profit before tax and net income?
b. What must have been the firm's revenues?
c. What was EBIT?