Byron Books Inc. recently reported $12 million of net income. Its EBIT was $29.6 million, and its tax rate was 25%. What was its interest expense? (Hint: Write out the headings for an income statement, and then fill in the known values. Then divide $12 million of net income by (1 - T) = 0.75 to find the pretax income. The difference between EBIT and taxable income must be interest expense. Use this same procedure to complete similar problems.) Write out your answer completely. For example, 25 million should be entered as 25,000,000. Round your answer to the nearest dollar, if necessary. Do not round intermediate calculations. $ Patterson Brothers recently reported an EBITDA of $17.5 million and net income of $5.25 million. It had $1.5 million of interest expense, and its corporate tax rate was 25%. What was its charge for depreciation and amortization? Write out your answer completely. For example, 25 million should be entered as 25,000,000. Do not round intermediate calculations. Round your answer to the nearest dollar, if necessary. $ Electronics World Inc. paid out $7.8 million in total common dividends and reported $195 million of retained earnings at year-end. The prior year's retained earnings were $152.1 million. What was the net income? Assume that all dividends declared were actually paid. Write out your answer completely. For example, 25 million should be entered as 25,000,000. Round your answer to the nearest dollar, if necessary. $ Which of the following actions are most likely to directly increase cash as shown on a firm's balance sheet? Select the appropriate assumptions that underlie your answer. a. It issues $2 million of new common stock. b. It buys new plant and equipment at a cost of $3 million. c. It reports a large loss for the year. d. It increases the dividends paid on its common stock. I. Statements (b) and (d) will increase the amount of cash on a company's balance sheet. Statement (a) will decrease cash through the sale of common stock. Selling stock uses cash from financing activities. On one hand, Statement (C) would decrease cash; however, it is also possible that Statement (C) would increase cash, if the firm receives a tax refund for taxes paid in a prior year. II. Statements (b) and (d) will increase the amount of cash on a company's balance sheet. Statement (a) will increase cash through the sale of common stock. Selling stock provides cash through financing activities. On one hand, Statement (C) would decrease cash; however, it is also possible that Statement (C) would increase cash, if the firm receives a tax refund for taxes paid in a prior year. III. Statements (b) and (d) will decrease the amount of cash on a company's balance sheet. Statement (a) will increase cash through the sale of common stock. Selling stock provides cash through financing activities. On one hand, Statement (C) would decrease cash; however, it is also possible that Statement (C) would increase cash, if the firm receives a tax refund for taxes paid in a prior year. IV. Statements (b) and (d) will decrease the amount of cash on a company's balance sheet. Statement (a) will decrease cash through the sale of common stock. Selling stock uses cash from financing activities. On one hand, Statement (C) would decrease cash; however, it is also possible that Statement (C) would increase cash, if the firm receives a tax refund for taxes paid in a prior year. V. Statements (b) and (d) will decrease the amount of cash on a company's balance sheet. Statement (a) will increase cash through the sale of common stock. Selling stock provides cash through financing activities. Statement (C) would neither increase or decrease cash for taxes paid in a prior year. -Select- - = = >>