If Cleveland Motors Had an EBIT of $22,842,300, Interest of $7,165,500, and is taxed at an average rate of 32%, what is their Net Income?
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- Bryon Brooks Inc. recently reported 15 million of net income. Its EBIT was 20.8 million, and its tax rate was 25%. What was its intrest expense?(Hint: Write out the headings for an income statement, and fill in the known values. Then divide 15 million of net income by (1-T)= 0.75 to find the pretax income. The difference between EBIT and taxable income must be intrest expense.Molteni Motors Inc. recently reported $6 million of net income. Its EBIT was$13 million, and its tax rate was 40%. What was its interest expense? (Hint:Write out the headings for an income statement and then fill in the knownvalues. Then divide $6 million net income by 1 - T = 0.6 to find the pretax income. The difference between EBIT and taxable income must be theinterest expense. Use this procedure to work some of the other problems.)What is the basic earning power of this accounting question?
- A company recently reported $9.7 million of net income. Its EBIT was $15.5 million, and its federal tax rate was 24% (ignore any possible state corporate taxes). What was its EBT? What was its Tax liability? What was its interest expense?Byron Brock’s inc recently reported $13 million of net income. It’s EBIT was $20375000, and it’s tax rate was 35%. What was urs interest expenseByron Books Inc. recently reported $15 million of net income. Its EBIT was $31.2 million, and its tax rate was 25%. What was its interest expense? (Hint: Write out the headings for an income statement, and then fill in the known values. Then divide $15 million of net income by (1 T) = 0.75 to find the pretax income. The difference between EBIT and taxable income must be interest expense. Use this same procedure to complete similar problems.) Write out your answer completely. For example, 25 million should be entered as 25,000,000. Round your answer to the nearest dollar, if necessary. Do not round intermediate calculations. $
- Gia, Inc. has sales of $497,000, costs of $276,000, depreciation expense of $43,000, interest expense of $24,000, and a tax rate of 21%. How do i calculate net income?Tom Inc. report a $30million of net income. its EBIT is 50millions, the flat tax rate is 25%? What was its interest expense (in million)?If a company's net income before tax is $500. If they have a corporate income tax rate of 40% what would their net income be then?
- A company recently reported $9.8 million of net income. Its EBIT was $15 million, and its federal tax rate was 22%(ignore any possible state corporate taxes).What was its EBT? Blank 1What was its Tax liability? Blank 2What was its interest expense? Blank 3What is Net income?Byron Books Inc. recently reported $15million of net income. Its EBIT was$20.8million, and its tax rate was 25%. What was its interest expense? (Hint: Write out the headings foran income statement, and fill in the known values. Then divide $15million of net income by (1-T)=0.75 tofind the pretax income. The difference between EBIT and taxable income must be interest expense. Usethis same procedure to complete similar problems.)