How do I calculate the EBITDA and business value for the business below? I believe that the EBITDA is $575,000

You are interested in buying a local machine shop business.You have gathered the following information from the current owner and his accountant.

Sales3 million dollars per year

Cost of goods1.7 million dollars per year

Cash Expenses 725 thousand dollars per year

Depreciation Expense 125 thousand dollars per year

Cash on the balance sheet 150 thousand dollars

Receivables on the balance sheet 75 thousand dollars

Inventory on the balance sheet 300 thousand dollars

Fixed asset net of depreciation on the balance sheet 450 thousand dollars

Total Current Liabilities on the balance sheet 175 thousand dollars

Total Long Term Debt on the balance sheet 600 thousand dollars