A B D E F H I J 1 Problem 3.24 Income Statement 2 3 For the most recent fiscal year, Carmichael Hobby Shop recorded EBITDA of $512,725.20 4 EBIT of $362,450.20, zero interest expense, and cash flow to investors from operating 5 activity of $348,461.25. Assuming there are no non-cash revenues recorded 6 on the income statement, what is the firm's net income after taxes? 7 8 Hint: Using the template below, complete the Income Statement using the figures given 9 above and enter formulas in the appropriate cells to compute the missing figures. 10 Remember that Cash flow = Net income + Depreciation. After computing Net income, 11 work from the bottom up to determine the value of Taxes, EBT, Interest, and Costs. 12 13 14 Carmichael Hobby Shop 15 Income Statement for the period ending March 31, 2009 16 17 Amount 18 Revenues $1,314,680.00 19 Costs 20 EBITDA 21 Depreciation 22 EBIT 23 Interest 24 EBT 25 Taxes (34%) 26 Net Income 27 Cash Flow 28 29 30 31 32 G