Question 3 Cave Answer The Johnson Materials Inc. has an EBIT of $1,500,000. Its Times Interest Earned (TIE) ratio is 2, Profit Margin is 12% and the tax rate is 30%6. Costs of Goods Sold (COGS) is $2.5 million. Develop an income statement by filling in the blanks in the following table (35 points). Hint: You will begin with sales and end with Nl; start with EBIT. Note: Round your answers to the nearest dollar, and DO NOT USE COMMA in your answer. E.g., 16,666.6 should be rounded to and typed in as 16667. Income Statement: Sales (Note: Do not use comma in your answer) COGS 2500000 EBITDA (Note: Do not use comma in your answer) Depreciation&Amortization (Note: Do not use comma in your answer) EBIT 1500000 Interest Expense (Note: Do not use comma in your answer) EBT (Note: Do not use comma in your answer) | (Note: Do not use comma in your answer) Net Income (Note: Do not use comma in your answer) Question 4 ve Ansv Which one of the following is the tax rate that applies to the last dollar of taxable income that a firm earns? a. Marginal tax rate Absolute tax rate OC. Average tax rate Variable tax rate d