Oakdale Fashions, Inc.’s, 2021 income statement is reported below. Oakdale Fashions, Inc., Income Statement for 2021 Net sales (all credit) $ 565,000 Less: Cost of goods sold 215,000 Gross profits $ 350,000 Less: Other operating expenses 90,000 EBITDA $ 260,000 Less: Depreciation and amortization 15,000 EBIT $ 245,000 Less: Interest 80,000 EBT $ 165,000 Less: Taxes Net income $ Determine the firm's 2021 net income. (Round your answer to the nearest dollar amount.) Tax Liability- Say's that 34,650 and 130, 350 are wrong. Can you help? Determine the firm's 2021 average tax rate. (Round your answer to 2 decimal places.) Determine the firm's 2021 marginal tax rate.
Oakdale Fashions, Inc.’s, 2021 income statement is reported below. Oakdale Fashions, Inc., Income Statement for 2021 Net sales (all credit) $ 565,000 Less: Cost of goods sold 215,000 Gross profits $ 350,000 Less: Other operating expenses 90,000 EBITDA $ 260,000 Less: Depreciation and amortization 15,000 EBIT $ 245,000 Less: Interest 80,000 EBT $ 165,000 Less: Taxes Net income $ Determine the firm's 2021 net income. (Round your answer to the nearest dollar amount.) Tax Liability- Say's that 34,650 and 130, 350 are wrong. Can you help? Determine the firm's 2021 average tax rate. (Round your answer to 2 decimal places.) Determine the firm's 2021 marginal tax rate.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Oakdale Fashions, Inc.’s, 2021 income statement is reported below.
| Oakdale Fashions, Inc., Income Statement for 2021 | |||
| Net sales (all credit) | $ | 565,000 | |
| Less: Cost of goods sold | 215,000 | ||
| Gross profits | $ | 350,000 | |
| Less: Other operating expenses | 90,000 | ||
| EBITDA | $ | 260,000 | |
| Less: |
15,000 | ||
| EBIT | $ | 245,000 | |
| Less: Interest | 80,000 | ||
| EBT | $ | 165,000 | |
| Less: Taxes | |||
| Net income | $ | ||
Determine the firm's 2021 net income. (Round your answer to the nearest dollar amount.)
Tax Liability-
Say's that 34,650 and 130, 350 are wrong. Can you help?
Determine the firm's 2021 average tax rate. (Round your answer to 2 decimal places.)
Determine the firm's 2021 marginal tax rate.
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