Problem $3-16$ Income Statement $($LO$3)$

Sheryl's Shipping had sales last year of $$13,500.$ The cost of goods sold was $$7,200,$ general and administrative expenses were

$$1,700,$ interest expenses were $$1,200,$ and depreciation was $$1,700.$ The firm's tax rate is $21\%.$

a$.$ What are earnings before interest and taxes?

b$.$ What is net income?

c$.$ What is cash flow from operations?

a$.$ Earnings before interest and taxes

b$.$ Net income

c$.$ Cash flow from operations