$.$ INCOME STATEMENT Byron Books Inc. recently reported $$15$ million of net income. Its EBIT was $$20\mathrm{.}8$ million, and its tax rate was $25\%.$ What was its interest expense? $($Hint: Write out the headings for an income statement, and fill in the known values. Then divide of net income by $(1$ T or $0\mathrm{.}75$ where T $=$ tax rate$)$ to find the pretax income. The difference between EBIT and taxable income must be interest expense. Use this same procedure to complete similar problems.$)$

$3.$ STATEMENT OF CASH FLOWS Hampton Industries had $$39,000$ in cash at year$-$end $2020$ and $$11,000$ in cash at year$-$end $2021.$ The firm invested in property, plant, and equipment totaling $$210,000$the majority having a useful life greater than $20$ years and falling under the alternative depreciation system. Cash flow from financing activities totaled $+$$$120,000.$

$1.$ What was the cash flow from operating activities?

$2.$ If accruals increased by $$15,000,$ receivables and inventories increased by $$50,000,$ and depreciation and amortization totaled $$25,000,$ what was the firm$$s net income?