Wilma's Widgets had net sales of $11,948,400 in 2020. The cost of goods sold was $3,573,300, operating expenses (excluding depreciation) were $312,480, interest expenses were $314,590, depreciation expense was $162,320, and dividends paid were $271,560. The firm's tax rate is 35 percent. What did Wilma's Widgets report as earnings before interest and taxes (i.e., operating profit) in 2020? Record your answer rounded to the nearest dollar. Do not include a dollar sign or commas in your answer. If your answer is a negative number, place a minus sign before your answer with no space between the minus sign and the number. For example, record $1,234,567.89 as 1234568 or negative $543,210 as -543210

Answer rating: 100% (QA)

To calculate the earnings before interest and taxes EBIT for Wilmas Widgets in 2020 we need to sub... View the full answer