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answer both parts please Intro Emily Lim owns and runs an ice cream parlor in San Diego. Last year, she had sales of $410,000 and
answer both parts please
Intro Emily Lim owns and runs an ice cream parlor in San Diego. Last year, she had sales of $410,000 and an average tax rate of 27%. She spent $41,000 on ingredients, $20,500 on utilities, and $73,800 to rent the premises. Emily has a few employees and paid them $82,000 in wages in total, She also paid herself a salary of $61,500 and spent $41,000 to pay for employee benefits A few years ago, Emily borrowed money to buy the ice making equipment Last year, she paid $20,500 in interest on that loan Depreciation for the equipment was $12,300 B Attempt 1/10 for 10 pts Part 1 What was operating income (EBIT) for the year? 0+ decimals Submit IBAttempt 1/10 for 10 pts. Part 2 What was net income for the year? 0+ decimals Submit Step by Step Solution
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