Trevi Corporation recently reported an EBITDA of $32,200 and $9,700 of net income. The company has $6,900 interest expense, and the corporate tax rate is 35 percent. What was the companys depreciation and amortization expense?

Your Answer:

Question 1 options:

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Question 3 (1 point)

The difference between FIFO and LIFO is FIFO refers to the practice of firms, when making sales, assuming that the inventory that came in last (at a higher price) is being sold first. LIFO implies that a firm is selling the lower cost, older inventory first, leaving the higher cost, newer inventory on the balance sheet.

Question 3 options:

True

False

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Question 4 (1 point)

Which of the following balance sheet items generally takes the longest time to convert to cash?

Question 4 options:

marketable securities

accounts payable

inventory

accounts receivable

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Question 5 (1 point)

A firms net income may be greater than its net cash flows because the firm

Question 5 options:

sold merchandise on credit

did not pay dividends

deferred income taxes

deducted depreciation expense

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Question 6 (1 point)

The average tax rate is

Question 6 options:

the tax rate that is paid on the last dollar of income earned

always higher than the marginal tax rate

calculated by dividing the total taxes paid by the taxable income

none of the above

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Question 7 (1 point)

If Cleveland Motors Had an EBIT of $22,840,600, Interest of $7,344,300 and is taxed at an average rate of 32% what is their Net Income?

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Question 8 (1 point)

Using the information below -- what was Bala Industries Cash Flow from Financing for the year ending 6/30/2011?

Increase in inventories $29

Purchased treasury stock $18

Purchased property & equipment $21

Net Income $339

Decrease in accrued income taxes $41

Depreciation & amortization $114

Decrease in accounts payable $16

Increase in accounts receivable $31

Increase in Long-term debt $101

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Question 9 (1 point)

Which of the following is a tax deductible expense for a corporation?

Question 9 options:

common stock

dividends paid

loan principal paid

interest paid

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Question 10 (1 point)

Delta Ray Brands Corp. just completed their latest fiscal year. The firm had sales of $16,399,900. Depreciation and amortization was $808,100, interest expense for the year was $821,200, and selling general and administrative expenses totaled $1,593,400 for the year, and cost of goods sold was $9,004,000 for the year. Assuming a federal income tax rate of 34%, what was the Delta Ray Brands net income after-tax?

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