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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) $ 615,000
Less: Cost of goods sold 235,000
Gross profits $ 380,000
Less: Other operating expenses 110,000
EBITDA $ 270,000
Less: Depreciation and amortization 17,000
EBIT $ 253,000
Less: Interest 85,000
EBT $ 168,000
Less: Taxes
Net income $
Determine the firm's tax liability.

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