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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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please type the answers here, d0not upload as an image
Transcribed Image Text:Problem 3.18
Problem 3.24
Problem 3.24
Problem 3.31
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?
Income Statement
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.
Revenues
Costs
EBITDA
Depreciation
Carmichael Hobby Shop
Income Statement for the period ending March 31, 2009
EBIT
Interest
EBT
Taxes (34%)
Net Income
Amount
$1,314,680.00
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