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Problem 3-16 Income Statement (LO3) Sheryls Shipping had sales last year of $18,000. The cost of goods sold was $8,100, general and administrative expenses were

Problem 3-16 Income Statement (LO3)

Sheryls Shipping had sales last year of $18,000. The cost of goods sold was $8,100, general and administrative expenses were $2,600, interest expenses were $2,100, and depreciation was

$2,600. The firms tax rate is 21%.

What are earnings before interest and taxes?

What is net income?

What is cash flow from operations?

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