503(.21) = 105.63 is incorrect according to the program.

Net Income is incorrect

Problem 2-8 Corporate Taxes (LG2-3) Everybody's Fitness's 2021 income statement is reported below (in millions of dollars) (Use corporate tax rate of 21 percent for your calculations.) Everybody's Fitness Income Statement for 2021 (in millions of dollars) Net sales (all credit) Less: Cost of goods sold Gross profits Less: Other operating expenses EBITDA Less: Depreciation and amortization EBIT Less: Interest EBT Less: Taxes Net income $2,885 840 $2,045 615 $ 1,430 452 $ 978 475 $ 503 Determine the firm's 2021 tax liability. Tax liability This is a numeric cell, so please enter numbers only. Determine the firm's 2021 net income. Net income $ 397