Use the financial statements for ABC Corp. shown below to answer questions 24 25. First compute and fill in the blank squares for EBIT, EBT, Taxes, and EAT or Net Income.

Income Statement for ABC Corp. for 2010
Sales	$100.00
COGS	$50.00
Depreciation	$10.00
EBIT	$
Interest	$15.00
Earnings Before Taxes (EBT)	$
Taxes (@30%)	$
Earnings After Taxes (EAT) or Net Income	$

28. The Net Income for ABC Corp. in 2010 based on the information given above is:

a. $ 7.50

b. $ 15.00

c. $ 17.50

d. $ 25.00

e. $ 27.50