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Use the financial information for T&T Inc. listed below to create a balance sheet and income statement for the firm. The company's average tax rate
Use the financial information for T&T Inc. listed below to create a balance sheet and income statement for the firm. The company's average tax rate is 20%. a. what is the firm's net income? b. what is the firm's revenue? c. what is the firm's EBIT? Cash 10,000 Inventory 200,000 Fixed Assets 100,000 Accounts receivable 22,000 Accounts payable 17,000 Long-term debt 170,000 Cost of Goods Sold 8,000 Income taxes 2,000 Administrative expenses 3,000 Interest expense 1,000 Depreciation 1,000
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