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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) $ 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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