Income Statement Assignment | Homework For You
February 13th, 2020
A firm’s income statement included the following data. The firm’s average tax rate was 25%.
| Cost of goods sold | $ | 8,700 |
| Income taxes paid | $ | 2,700 |
| Administrative expenses | $ | 3,700 |
| Interest expense | $ | 1,700 |
| Depreciation | $ | 1,700 |
a. What was the firm’s net income?
b. What must have been the firm’s revenues?
c. What was EBIT? Get Finance homework help today
