Revenue is $$906,809\mathrm{.}00($EXB $1)$

Expense is $$845,383\mathrm{.}00($EXB $5)$

Depreciation is $$2,137\mathrm{.}00\{10,359(2013)8,222(2012)\}($Page $204)$

Amortization is $$400\mathrm{.}00$

Calculate EBITDA for the fiscal year $2,013$ :

Revenue $=$$$906,809$

Less: Expense $=$$$845,383$

EBIT $=$$$61,426$

Add:

Depreciation is $$2,137$

Amortization is $$400$

EBITDA $=63,963$

Briefly discuss the importance of EBITDA and comment on whether EBITDA is a useful proxy for operating cash flows for Contempri Homes. Include your calculations. For partial credit, show your work.