12:21 SmartBook Chapter 12 Question Completion Status: QUESTION 16 10 points Save Answer More Income Statement Practice: how to deal with taxes A firm has $6,976 in Net Sales and Operating Expenses are $1,910. Depreciation Expense is $841. Interest expense is $468 and the firm has a 12.1% tax rate. Calculate the firm's Net Income. Include a negative if appropriate 1. first find EBIT 2. next subtract Interest 3. then subtract taxes, there are two way to do this 1. Find the tax amount in dollars (EBTT where Tis a decimal) and then subtract it out: EBT - taxes 2. Or find taxes and subtract them in one step EBT*(1-T) where is in decimal form Your answer should be in dollars ($200 or 200 are both acceptable formats) Do not round intermediate steps. Round the final answer only QUESTION 17 10 points Save Answer Using the equations in Sections 3-3, find the Earnings, Earnings per share, Dividends per share, and Book value per share using the following information: A firm has $146.3 million ($146,300,000) in Net Inname and 76 milline 175 mm Click Save and Submit to save and submit. Click Save All Ansters to save all answers Save All Answers Save and Submit