The Fitness Studio, Inc.'s, 2021 income statement lists the following income and expenses: EBITDA = $680,000,...

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The Fitness Studio, Inc.'s, 2021 income statement lists the following income and expenses: EBITDA = $680,000, EBIT = $544,000, interest expense = $88,000, and net income = $423,000. Calculate the 2021 taxes reported on the income statement. (Enter your answer in dollars. Round your answer to the nearest dollar amount.) Taxes The Fitness Studio, Inc.'s, 2021 income statement lists the following income and expenses: EBITDA = $680,000, EBIT = $544,000, interest expense = $88,000, and net income = $423,000. Calculate the 2021 taxes reported on the income statement. (Enter your answer in dollars. Round your answer to the nearest dollar amount.) Taxes

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To calculate the taxes reported on the income statement we need to use the formula Net Income ... View the full answer