Oakdale Fashions, Inc.'s, 2021 income statement is reported below. (Use corporate tax rate of 21 percent for
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Oakdale Fashions, Inc.'s, 2021 income statement is reported below. (Use corporate tax rate of 21 percent for your calculations.)
Oakdale Fashions, Inc., Income Statement for 2021
Net sales (all credit) $ 660,000
Less: Cost of goods sold 253,000
Gross profits $ 407,000
Less: Other operating expenses 128,000
EBITDA $ 279,000
Less: Depreciation and amortization 18,800
EBIT $ 260,200
Less: Interest 89,500
EBT $ 170,700
Less: Taxes
Net income $
tax liability?
net income?
average tax rate?
Related Book For
Finance Applications And Theory
ISBN: 9781260013986
5th Edition
Authors: Marcia Cornett, Troy Adair, John Nofsinger
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