1. EBIT

2. Taxable income

3. Tax rate (based upon Taxable Income)

4. Net income

5. Addition to retained earnings

As a soon-to-be business baccalaureate from Indiana University, your proud parents are wanting you to take over the family business, starting on January 15, 2017. The firm specializes in business computing solutions, maintenance, and repairs, focusing on commercial clients in the Indy-Louisville-Cincy region. Before accepting this offer, you want to know more about the business. First, you decide to get a better understanding of the cash flows and other financial basics about the business. On December 31, 2016, your parents give you this information about the business for the calendar year 2016