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UVW Electronics provided the following data for the year 2023: Total Revenue: $8,000,000 Cost of Goods Sold: $5,000,000 Selling and Administrative Expenses: $1,500,000 Depreciation and
UVW Electronics provided the following data for the year 2023:
- Total Revenue: $8,000,000
- Cost of Goods Sold: $5,000,000
- Selling and Administrative Expenses: $1,500,000
- Depreciation and Amortization: $300,000
- Interest Expense: $200,000
- Tax Rate: 28%
Requirements:
- Prepare an Income Statement.
- Calculate the Earnings Before Interest and Taxes (EBIT).
- Compute the Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA).
- Determine the Net Income.
- Calculate the Effective Tax Rate.
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