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A firms income statement included the following data. The firms average tax rate was 25%. Cost of goods sold $ 8,500 Income taxes paid $
A firms income statement included the following data. The firms average tax rate was 25%.
Cost of goods sold | $ | 8,500 |
Income taxes paid | $ | 2,500 |
Administrative expenses | $ | 3,500 |
Interest expense | $ | 1,500 |
Depreciation | $ | 1,500 |
a. What was the firms net income?
b. What must have been the firm's revenues?
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