For 20For 2022 Northwood reported 510 million in operafing income (EBIT). Its depreciation expense whes

$?

million, its interest expense was

$2

million, and its corporate tax rate was

25%

. At yearend, it had

$28

million in operating current assels, 56 miltion in aceounts payable,

$2

million in aceruals, 54 million in notes payable, and 530 million in net plant and equipment. Assume Northwood has no excess cash. Northwood uses only debt and common equity to fund its operations, (In other words, Northwood has no preferred stock on its balance sheet.) Northwood had no other current listilities. Aseume that Nonhwood only noneash item was depreciation. Based on this information answer the following questions:\ What was the company's net income?

For 2022 Northwood reported $10 million in operating income (EBIT). Its depreciation expense was 52 miltion, its interest expence was $2 million, and its corporate tax rate was 25%. At yearend, it had $28 million in operating current assets, $6 million in accounts payable, 52 miltion in aceruals, $4 million in notes payable, and 530 million in net plant and equipment. Assume Northwood has no excess cash. Northwood uses only debt and common equity to fund its operations, (la other words, Northwood has no preferred stock on its balance sheet) Northwood hat no ofter curtent lisabilitice. Assume that Northwood only noneash item was depreciation. Based on this information answer the following questions