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help with 17.25 For Magdalen Industries, compute the net income before taxes and net profit (or loss). Taxes for the year were exist7.5 million. (a)

help with 17.25image text in transcribed

For Magdalen Industries, compute the net income before taxes and net profit (or loss). Taxes for the year were exist7.5 million. (a) Calculate net profit for the year. (b) Construct the income statement. (c) Calculate the interest coverage and net profit ratio. Is the interest coverage acceptable? Explain why or why not

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