Accounts in Millions of USD.

ITEM

$2020$

Accounts Receivable

$2,000$

Accounts Payable

$400$

Expense Accruals

$600$

Accumulated Depreciation

$2,000$

Cash

$1,000$

Cost of Goods Sold $($COGS$)$

$4,000$

Depreciation Expense

$500$

Interest Expense

$700$

Inventory

$4,000$

Long Term Debt

$3,000$

Operating Expenses

$700$

Net Fixed Assets

$5,000$

Notes Payable

$200$

Sales

$9,000$

Tax rate $30\%$

What was the earnings before interest and tax $($EBIT$)?$

Accounts in Millions of USD.

ITEM

$2020$

Accounts Receivable

$2,000$

Accounts Payable

$400$

Expense Accruals

$600$

Accumulated Depreciation

$2,000$

Cash

$1,000$

Cost of Goods Sold $($COGS$)$

$4,000$

Depreciation Expense

$500$

Interest Expense

$700$

Inventory

$4,000$

Long Term Debt

$3,000$

Operating Expenses

$700$

Net Fixed Assets

$5,000$

Notes Payable

$200$

Sales

$9,000$

Tax rate $30\%$

What was the earnings before interest and tax $($EBIT$)?$