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Oakdale Fashions, Inc.'s, 2021 income statement is reported below. (Use corporate tax rate of 21 percent for your calculations.) Oakdale Fashions, Inc., Income Statement for

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Oakdale Fashions, Inc.'s, 2021 income statement is reported below. (Use corporate tax rate of 21 percent for your calculations.) Oakdale Fashions, Inc., Income Statement for 2021 Net sales (all credit) $ 615,000 235,000 Less: Cost of good sold Gross profits $ 380,000 Less: Other operating expenses 110,000 EBITDA $ 270,000 17,000 Less: Depreciation and amortization EBIT $ 253,000 Less: Interest 85,000 EBT $ 168,000 Less: Taxes Net income $ Determine the firm's 2021 tax liability. Tax liability Determine the firm's 2021 net income. Net income Determine the firm's 2021 average tax rate. (Round your answer to 2 decimal places.) Average tax rate % Determine the firm's 2021 marginal tax rate. Marginal tax rate %

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