INCOME STATEMENT Little Books Inc. recently reported $3 million of net income. Its EBIT 3-2 was $6 million, and its tax rate was 40 %. What wass Inrerest expense? [Hint: Write out the headings for an income statement, and fill in the ivo values. Then divide $3 million of net income by (1-T) 0.6 to find the pret t income Toe difference between EBIT and taxable income must be interest expense. Use this sarne procedure to complete similar problems