$2-3$: Income Statement

Income Statement The Fitness Studio, Inc.$$s income statement lists the following income and expenses: EBITDA $=$ $$650,000,$ EBIT $=$ $$538,000,$ interest expense $=$ $$63,000,$ and net income $=$ $$435,000.$ Calculate the taxes reported on the income statement.

$3-1$: Liquidity Ratios

You are evaluating the balance sheet for SophieLex$$s Corporation. From the balance sheet you find the following balances: cash and marketable securities$=$$$400,000$; accounts receivable$=$$$1,200,000$; inventory$=$$$2,100,000$; accrued wages and taxes$=$$$500,000$; accounts payable$=$$$800,000$; and notes payable$=$$$600,000.$ Calculate SophieLex$$s current ratio, quick ratio, and cash ratio