Problem 2-13 Spreadsheet Problem: Corporate Taxes (LG2-3) Everybody's Fitness's income statement is reported below (in millions...

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Problem 2-13 Spreadsheet Problem: Corporate Taxes (LG2-3) Everybody's Fitness's income statement is reported below (in millions of dollars) (Use corporate tax rate of 21 percent for your calculations.) Everybody's Fitness Income Statement (in millions of dollars) Net sales (all credit) Less: Cost of goods sold Gross profits Less: Other operating expenses EBITDA Less: Depreciation and amortization $ 1,385 540 $ 845 315 $ 530 152 EBIT Less: Interest EBT Less: Taxes Net income Determine the firm's tax liability. Note: Enter your answer in dollars not in millions. Answer is complete but not entirely correct. Tax liability $ 43 Determine the firm's net income. Note: Enter your answer in dollars not in millions. Answer is complete but not entirely correct. Net income $ 160 $ 378 175 $ 203 $ Problem 2-13 Spreadsheet Problem: Corporate Taxes (LG2-3) Everybody's Fitness's income statement is reported below (in millions of dollars) (Use corporate tax rate of 21 percent for your calculations.) Everybody's Fitness Income Statement (in millions of dollars) Net sales (all credit) Less: Cost of goods sold Gross profits Less: Other operating expenses EBITDA Less: Depreciation and amortization $ 1,385 540 $ 845 315 $ 530 152 EBIT Less: Interest EBT Less: Taxes Net income Determine the firm's tax liability. Note: Enter your answer in dollars not in millions. Answer is complete but not entirely correct. Tax liability $ 43 Determine the firm's net income. Note: Enter your answer in dollars not in millions. Answer is complete but not entirely correct. Net income $ 160 $ 378 175 $ 203 $