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both pictures same question Oakdale Fashions, Inc.'s, 2021 income statement is reported below. (Use corporate tax rate of 21 percent for your calculations.) Oakdale Fashions,
both pictures same question
Oakdale Fashions, Inc.'s, 2021 income statement is reported below. (Use corporate tax rate of 21 percent for your calculations.) Oakdale Fashions, Inc., Income Statement for 2021 Het sales (all credit) $ 605,000 Less: Cost of goods sold 231,000 Gross profits $ 374,000 Les Other operating expenses 106,000 EBITDA $ 268,000 Less: Depreciation and amortization 16,600 EBIT $ 251,400 Lesst Interest B4,000 EBT $ 167,400 Less Taxes Net income 30 Determine the firm's 2021 tax liability Tax liability Determine the firm's 2021 net income Net Income Determine the firm's 2021 net income. Net income Determine the firm's 2021 average tax rate. (Round your answer to 2 decimal places.) Average tax rate % Determine the firm's 2021 marginal tax rate. Marginal tax rate % Step by Step Solution
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