Question
A firm's income statement included the following data. The firm's average tax rate was 20 percent. Cost of goods sold = $8,000 Income taxes paid
A firm's income statement included the following data. The firm's average tax rate was 20 percent.
Cost of goods sold = $8,000
Income taxes paid = $2,000
Administrative expenses = $3,000
Interest expense = $1,000
Depreciation = $1,000
a.What was the firm's net income?
b.What must have been the firm's revenues?
c.What was EBIT?
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Fundamentals Of Advanced Accounting
Authors: Joe Hoyle
4th Edition
78136636, 978-0078136634
