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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) $ 2,085

Less: Cost of goods sold 680

Gross profits $ 1,405

Less: Other operating expenses 455

EBITDA $ 950

Less: Depreciation and amortization 292

EBIT $ 658

Less: Interest 315

EBT $ 343

Less: Taxes $_____

Net income $_____

Determine the firms 2021 tax liability.

Determine the firms 2021 net income.

Determine the firms 2021 average tax rate. (Round your answer to 2 decimal places.)

Determine the firms 2021 marginal tax rate.

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