Please don't use symbols such as commas and the dollar sign (, $)when you write your answers

( )

Use XYZ financial information to answer the questions below:

XYZ company

Income statement

for the year ended Dec 31, 2020

Sales

Cost of Goods Sold

$250000

Gross Profit

$150000

Operating Expenses

$70000

Operating Profit

Interest Expense

Earnings before tax

Tax expense ( 40% tax rate)

Net Income

$36000

How much are XYZ company's sales?

Answer for part 1

Calculate XYZ Company's operating profit.

Answer for part 2

Calculate XYZ Company's interest expense.

Answer for part 3

Calculate XYZ Company's earnings before tax.

Answer for part 4

Calculate XYZ Company's tax expense.

Answer for part 5