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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) $ 600,000 Less: Cost of goods sold 229,000 Gross profits $ 371,000 Less: Other operating expenses 104,000 EBITDA $ 267,000 Less: Depreciation and amortization 16,400 EBIT $ 250,600 Less: Interest 83,500 EBT $ 167,100 Less: Taxes Net income Determine the firm's 2021 tax liability. Tax liability Determine the firm's 2021 net income. Net income

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