For the most recent fiscal year, Carmichael Hobby Shop recorded EBITDA of $512,725.20, EBIT of $362,450.20, zero interest expense, and cash flow to investors from operating activity of $348,461.25. Assuming there are no non-cash revenues recorded on the income statement, what is the firm's net income after taxes? Hint: Using the template below, complete the Income Statement using the figures given above and enter formulas in the appropriate cells to compute the missing figures. Remember that Cash flow = Net income + Depreciation. After computing Net income, work from the bottom up to determine the value of Taxes, EBT, Interest, and Costs. Carmichael Hobby Shop Income Statement for the period ending March 31, 2009 Revenues Costs EBITDA Depreciation EBIT Interest EBT Taxes (34%) Net Income Amount $1,314,680.00

For the most recent fiscal year, Carmichael Hobby Shop recorded EBITDA of $512,725.20, EBIT of $362,450.20, zero interest expense, and cash flow to investors from operating activity of $348,461.25. Assuming there are no non-cash revenues recorded on the income statement, what is the firm's net income after taxes? Hint: Using the template below, complete the Income Statement using the figures given above and enter formulas in the appropriate cells to compute the missing figures. Remember that Cash flow = Net income + Depreciation. After computing Net income, work from the bottom up to determine the value of Taxes, EBT, Interest, and Costs. Carmichael Hobby Shop Income Statement for the period ending March 31, 2009 Revenues Costs EBITDA Depreciation EBIT Interest EBT Taxes (34%) Net Income Amount $1,314,680.00

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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