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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
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 20211 Net sales (all credit). $ Less: Cost of goods sold Gross profits Less: Other operating expenses EBITDA Less: Depreciation and amortization EBIT Less: Interest EBT Less: Taxes Net income Determine the firm's 2021 tax liability. Answer is complete but not entirely correct. Tax liability $ 35,091 Determine the firm's 2021 net income. Answer is complete but not entirely correct. Net income $ 132,009 600,000 229,000 $371,000 104,000 $ 267,000 16,400 $ 250,600 83,500 $ 167,100 $
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