Problem $3-16$ Income Statement $($LO$3)$

Sheryl's Shipping had sales last year of $$10,000.$ The cost of goods sold was $$6,500,$ general and administrative expenses were $$1,000,$ interest expenses were $$500,$ and depreciation was $$1,000.$ The firm's tax rate is $21\%.$

a$.$ What are earnings before interest and taxes?

Earnings before interest and taxes

b$.$ What is net income?

Net income

c$.$ What is cash flow from operations?

Cash flow from operations