The Johnson Materials Inc. has an EBIT of $2,000,000. Its Times Interest Earned (TIE) ratio is 4, Profit Margin is 10% and the tax rate is 25%. Costs of Goods Sold (COGS) is $5.5 million. Develop an income statement by filling in the blanks in the following table

Hint: You will begin with sales and end with NI; 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 II COGS 5500000 EBITDA 11 Depreciation&Amortization EBIT 2000000 Interest Expense II = Tax II Net Income =