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Oakdale Fashions, Incorporated s , income statement is reported below. ( Use corporate tax rate of 2 1 percent for your calculations. ) Oakdale Fashions,

Oakdale Fashions, Incorporateds, income statement is reported below. (Use corporate tax rate of 21 percent for your calculations.)
Oakdale Fashions, Incorporated, Income Statement
Net sales (all credit) $ 580,000
Less: Cost of goods sold 221,000
Gross profits $ 359,000
Less: Other operating expenses 96,000
EBITDA $ 263,000
Less: Depreciation and amortization 15,600
EBIT $ 247,400
Less: Interest 81,500
EBT $ 165,900
Less: Taxes
Net income $
Determine the firm's tax liability.

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