The following question(s) refer to the year-end account balances for UBUS Inc. The accounts are listed in alphabetical order, NOT in the order they appear on the financial statements. The applicable tax rate is 40%.

UBUS Income Statement

Cost of Goods Sold ................................................330

Depreciation Expense ...............................................35

Interest Expense .......................................................20

Operating Expense (excluding depreciation)...........115

Sales .......................................................................600

Tax...........................................................................???

UBUS Balance Sheet

Accounts Payable ...............................................................35

Accounts Receivable .........................................................65

Accruals .............................................................................30

Accumulated Depreciation .............................................-175

Cash ...................................................................................35

Common Stock ............................................................... 120

Fixed Assets (gross) .........................................................390

Inventory .........................................................................135

Long-Term Debt .............................................................200

Retained Earnings .............................................................65

a) What were UBUS Inc.’s earnings before interest and taxes (EBIT)?

b) What is UBUS Inc.’s tax liability?

c) What was UBUS Inc.’s Net Income?

d) What is UBUS Inc.’s Total Assets?

e) What is UBUS Inc.’s Total Equity?

f) What is UBUS Inc.’s Net Working Capital?