Everybody’s Fitness's 2021 income statement is reported below (in millions of dollars) (Use corporate tax rate of 21 percent for your calculations.) Everybody’s Fitness Income Statement for 2021(in millions of dollars) Net sales (all credit) $ 1,385 Less: Cost of goods sold 540 Gross profits $ 845 Less: Other operating expenses 315 EBITDA $ 530 Less: Depreciation and amortization 152 EBIT $ 378 Less: Interest 175 EBT $ 203 Less: Taxes Net income $ Determine the firm’s 2021 tax liability. Tax Liability = ________ Determine the firm’s 2021 net income. Net Income = ________ Determine the firm’s 2021 average tax rate. (Round your answer to 2 decimal places.) Average Tax Rate = __________% Determine the firm’s 2021 marginal tax rate. Marginal Tax Rate = __________%
Everybody’s Fitness's 2021 income statement is reported below (in millions of dollars) (Use corporate tax rate of 21 percent for your calculations.) Everybody’s Fitness Income Statement for 2021(in millions of dollars) Net sales (all credit) $ 1,385 Less: Cost of goods sold 540 Gross profits $ 845 Less: Other operating expenses 315 EBITDA $ 530 Less: Depreciation and amortization 152 EBIT $ 378 Less: Interest 175 EBT $ 203 Less: Taxes Net income $ Determine the firm’s 2021 tax liability. Tax Liability = ________ Determine the firm’s 2021 net income. Net Income = ________ Determine the firm’s 2021 average tax rate. (Round your answer to 2 decimal places.) Average Tax Rate = __________% Determine the firm’s 2021 marginal tax rate. Marginal Tax Rate = __________%
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Everybody’s Fitness's 2021 income statement is reported below (in millions of dollars) (Use corporate tax rate of 21 percent for your calculations.)
| Everybody’s Fitness Income Statement for 2021 (in millions of dollars) |
|||
| Net sales (all credit) | $ | 1,385 | |
| Less: Cost of goods sold | 540 | ||
| Gross profits | $ | 845 | |
| Less: Other operating expenses | 315 | ||
| EBITDA | $ | 530 | |
| Less: |
152 | ||
| EBIT | $ | 378 | |
| Less: Interest | 175 | ||
| EBT | $ | 203 | |
| Less: Taxes | |||
| Net income | $ |
- Determine the firm’s 2021 tax liability.
- Tax Liability = ________
- Determine the firm’s 2021 net income.
- Net Income = ________
- Determine the firm’s 2021 average tax rate. (Round your answer to 2 decimal places.)
- Average Tax Rate = __________%
- Determine the firm’s 2021 marginal tax rate.
- Marginal Tax Rate = __________%
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