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2. Dalta Airlines recorded sales of $47 million in 2020. In addition, it reported $29 million in costs of goods sold, $2.5 million in depreciation,

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2. Dalta Airlines recorded sales of $47 million in 2020. In addition, it reported $29 million in costs of goods sold, $2.5 million in depreciation, and $1.3 million in interest expense for the year. Lastly, the firm paid out $4 million in cash dividends and it has 2 million shares of stock outstanding. The firm has an average tax rate of 35%. a. Build an income statement - include 1) earnings before interest and taxes, 2) taxable income, and 3) net income. Hint: you do not need to use the tax schedule to calculate taxes for this question (just multiply taxable income by the tax rate). b. Calculate the addition to retained earnings. C. Calculate earnings per share (EPS) and dividends per share (DPS). Round to 0.00

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