A firm’s income statement included the following data. The firm’s average tax rate was 25%. Cost of goods sold $ 8,900 Income taxes paid 2,900 Administrative expenses 3,900 Interest expense 1,900 Depreciation 1,900 a. What was the firm’s net income? Net income $ b. What must have been the firm’s revenues? Revenues $ c. What was EBIT? EBIT $
A firm’s income statement included the following data. The firm’s average tax rate was 25%. Cost of goods sold $ 8,900 Income taxes paid 2,900 Administrative expenses 3,900 Interest expense 1,900 Depreciation 1,900 a. What was the firm’s net income? Net income $ b. What must have been the firm’s revenues? Revenues $ c. What was EBIT? EBIT $
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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| A firm’s income statement included the following data. The firm’s average tax rate was 25%. |
| Cost of goods sold | $ 8,900 |
| Income taxes paid | 2,900 |
| Administrative expenses | 3,900 |
| Interest expense | 1,900 |
| |
1,900 |
| a. | What was the firm’s net income? |
| Net income | $ |
| b. | What must have been the firm’s revenues? |
| Revenues | $ |
| c. | What was EBIT? |
| EBIT | $ |
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