A firm's income statement included the following data. The firm's average tax rate was 20%. Cost of
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Cost of goods sold ................................... $8,000
Income taxes paid .................................... $2,000
Administrative expenses ............................ $3,000
Interest expense ...................................... $1,000
Depreciation .......................................... $1,000
a. What was the firm's net income?
b. What must have been the firm's revenues?
c. What was EBIT?
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Related Book For
Fundamentals of Corporate Finance
ISBN: 978-0077861629
8th edition
Authors: Richard Brealey, Stewart Myers, Alan Marcus
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