Use the following data about MS, Inc. to answer the next eight (8) questions:

Cost of Goods Sold $180,000 Interest Expense $ 10,000 Revenues $265,000 Depreciation $ 25,000 Tax Rate 40% Net Fixed Assets $150,000 Inventory $ 60,000 Cash $ 15,000 Accounts Receivable $ 25,000 Notes Payable $ 50,000 LT Bonds $120,000 Accounts Payable $ 30,000

Using the above information, calculate Earnings Before Interest and Taxes (EBIT).

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