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Please review photo for question: Squat XFit Inc. reported the following ($ in millions). You may also view this data in Excel with the SquatFix

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Squat XFit Inc. reported the following ($ in millions). You may also view this data in Excel with the SquatFix Financials file. Financial results 2020 Revenue 80.4 EBITDA 40.7 Interest income 3.0 Tax rate 25.0% Interest rate on debt 5.0% Balances as of 12/31/2019 12/31/2020 Net PP&E 212.7 246.0 Intangible assets 45.0 54.0 Debt 214.0 214.0 Purchases 2020 Assume purchases made at year end and thus did not generate D&A in 2020 Capital expenditures 53.4 Purchases of intangible assets 12.5 Calculate net income for the year ending 12/31/2020

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