Problem 2-8 Corporate Taxes (LG2-3) Everybody's Fitness's 2021 income statement is reported below (in millions of dollars) (Use corporate tax rate of 21 percent for your calculations.) $ 1,485 560 $ Everybody's Fitness Income Statement for 2021 (in millions of dollars) 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 $ 925 335 590 172 418 195 223 $ $ Determine the firm's 2021 tax liability. Tax liability $ 46,830,000 Determine the firm's 2021 net income. Net income $ 176,170,000 Determine the firm's 2021 average tax rate. (Round your answer to 2 decimal places.) Average tax rate % Determine the firm's 2021 marginal tax rate. Marginal tax rate % Problem 2-8 Corporate Taxes (LG2-3) Everybody's Fitness's 2021 income statement is reported below (in millions of dollars) (Use corporate tax rate of 21 percent for your calculations.) $ 1,485 560 $ Everybody's Fitness Income Statement for 2021 (in millions of dollars) 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 $ 925 335 590 172 418 195 223 $ $ Determine the firm's 2021 tax liability. Tax liability $ 46,830,000 Determine the firm's 2021 net income. Net income $ 176,170,000 Determine the firm's 2021 average tax rate. (Round your answer to 2 decimal places.) Average tax rate % Determine the firm's 2021 marginal tax rate. Marginal tax rate %