PLEASE SHOW ALL WORK AND FORMULAS, DON'T USE EXCEL. IF YOU USE A FINANCIAL CALCULATOR PLEASE PUT ALL STEPS FOR ENTERING INTO THE CALCULATOR AND WHICH MODES IT NEEDS TO BE ON.

Question 7 The Milk Factory Income Statement Accounts for the year ending December 31, 2016 Account Balance Cost of goods sold $345,000 Interest expense $79,000 Taxes $57,100 Revenue $836,000 Selling general, and administrative expenses $93,000 Depreciation $126,000 Refer to The Milk factory Income Statement Accounts. What is the company's EBIT for 2016