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Everybodys Fitness's 2021 income statement is reported below (in millions of dollars) (Use corporate tax rate of 21 percent for your calculations.) Everybodys Fitness Income
Everybodys Fitness's 2021 income statement is reported below (in millions of dollars) (Use corporate tax rate of 21 percent for your calculations.)
Everybodys Fitness Income Statement for 2021 (in millions of dollars) | |||
Net sales (all credit) | $ | 2,385 | |
Less: Cost of goods sold | 740 | ||
Gross profits | $ | 1,645 | |
Less: Other operating expenses | 515 | ||
EBITDA | $ | 1,130 | |
Less: Depreciation and amortization | 352 | ||
EBIT | $ | 778 | |
Less: Interest | 375 | ||
EBT | $ | 403 | |
Less: Taxes | |||
Net income | $ | ||
Determine the firms 2021 tax liability.
$__________
Determine the firms 2021 net income.
$__________
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