By year end, Norris Enterprises had $$210,000$ in sales. Operating costs excluding depreciation and amortization were $$160,000.$ The business financed expansions with $$66,875$ of debt at an interest rate of $8\%.$ Depreciation and amortization expenses were $$6,000.$ Norris Enterprises' tax rate is $40\%.$ Construct Norris Enterprises' Income Statement. Use this information to answer questions $5-6.$

Question $5$

$1pts$

What is Norris Enterprises' EBIT?

Question $6$

$1pts$

What is Norris Enterprise's Net Income?