Problem $16$:

A company's income statement reports net income of $$150,000,$ interest expense of $$20,000,$ and tax expense of $$30,000.$ Calculate the company's earnings before interest and taxes $($EBIT$).$

Problem $17$:

Calculate the straight$-$line depreciation expense for a piece of equipment purchased for $$60,000$ with a salvage value of $$10,000$ and an estimated useful life of $8$ years.

Problem $18$:

A company's balance sheet shows total assets of $$800,000$ an

d total liabilities of $$400,000.$ Calculate the company's debt ratio.

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