Question
Oakdale Fashions, Inc.s, 2021 income statement is reported below. Oakdale Fashions, Inc., Income Statement for 2021 Net sales (all credit) $ 565,000 Less: Cost of
Oakdale Fashions, Inc.s, 2021 income statement is reported below. Oakdale Fashions, Inc., Income Statement for 2021 Net sales (all credit) $ 565,000 Less: Cost of goods sold 215,000 Gross profits $ 350,000 Less: Other operating expenses 90,000 EBITDA $ 260,000 Less: Depreciation and amortization 15,000 EBIT $ 245,000 Less: Interest 80,000 EBT $ 165,000 Less: Taxes Net income $
Determine the firm's 2021 tax liability. (Round your answer to the nearest dollar amount.)
Determine the firm's 2021 net income. (Round your answer to the nearest dollar amount.)
Determine the firm's 2021 average tax rate. (Round your answer to 2 decimal places.)
Determine the firm's 2021 marginal tax rate.
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