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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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