Q1. If ABC Air had an EBIT of $22,646,000, Interest of $7,368,000 and is taxed at an average rate of 32% what is their Net Income? Round to the nearest cent.

Q2. Using the information below -- what was XYZ Industries' Cash Flow from Financing for the year ending 6/30/2011? Round to the nearest cent.

Increase in inventories$27

Purchased treasury stock$18

Purchased property & equipment$24

Net Income$337

Decrease in accrued income taxes$46

Depreciation & amortization$114

Decrease in accounts payable$19

Increase in accounts receivable$28

Increase in Long-term debt$100