Question: Based on the data below, determine the firm's tax liability, net income, average tax rate, and marginal tax rate. Net sales (all credit) $565,000 Less:

Based on the data below, determine the firm's tax liability, net income, average tax rate, and marginal tax rate. Net sales (all credit) $565,000 Less: Cost of goods sold 215,000 Gross profits 350,000 Less: Other operating expenses 90.000 Earnings before interest, taxes, depreciation, and amortization (EBITDA) 260,000 Less: Depreciation and amortization 15.000 Earnings before interest and taxes (EBIT) 245,000 Less: Interest 80,000 Earnings before taxes (EBT) 165,000 Less: Taxes Net income S

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