The following income statement (in thousands) is from the Securities and Exchange Commission 10-K filing by Amazon.com for the year ending December 31, 2004:

Included in the preceding income statement is depreciation and amortization expense of $75,724.
1. Compute the EBITDA for 2004.
2. Based upon (1), comment on Amazon.com€™sEBITDA.

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Net sales Cost of sales Gross profit Operating expenses: $6,921,124 5,319,127 $1,601,997 Fulfillment expenses Marketing expenses Technology and content expenses General and administrative expenses Stock-based compensation expense $590,397 158,022 251,195 112,220 57,702 (7,964) Other operating (income) expense Total operating expenses 1,161,572 $ 440,425 Income from operations before interest and taxes