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Income Statement: Patterson Brothers recently reported an EBITDA of $ 7 . 5 million and net income of $ 2 . 1 million. It had

Income Statement: Patterson Brothers recently reported an EBITDA of $7.5 million and net income of $2.1 million. It had $2.0 million of interest expense, and its corporate tax rate was 30%. What was its charge for depreciation and amortization? A skeleton of the income statement as well as some formulas are provided to organize the work. Fill out the missing parts. Work from bottom up.
EBITDA $7,500,000(Given)
Depreciation ?? Deprec. = EBITDA EBIT =??
EBIT ?? EBIT = EBT + Int =??+ $2,000,000
Interest 2,000,000(Given)
EBT ??
Taxes (30%)900,000 Taxes = EBT \times Tax rate (T)
Net Income (NI) $2,100,000(Given)

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