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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
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) $ 630,000 Less: Cost of goods sold 241,000 Gross profits $ 389,000 Less: Other operating expenses 116,000 EBITDA $ 273,000 Less: Depreciation and amortization 17,600 EBIT $ 255,400 Less: Interest 86,500 EBT $ 168,900 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 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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