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Oakdale Fashions, Incorporated's, income statement is reported below. (Use corporate tax rate of 21 percent for your calculations.) Oakdale Fashions, Incorporated, Income Statement Net sales (all credit) Less: Cost of goods sold Gross profits Less: Other operating expenses EBITDA Less: Depreciation and amortization EBIT Less: Interest EBT Less: Taxes $ 620,000 237,000 $ 383,000 112,000 $ 271,000 17,200 $ 253,800 85,500 $ 168,300 Net income Determine the firm's tax liability. Tax liability $ 35,343 Determine the firm's net income.

Oakdale Fashions, Incorporated's, income statement is reported below. (Use corporate tax rate of 21 percent for your calculations.) Oakdale Fashions, Incorporated, Income Statement Net sales (all credit) Less: Cost of goods sold Gross profits Less: Other operating expenses EBITDA Less: Depreciation and amortization EBIT Less: Interest EBT Less: Taxes $ 620,000 237,000 $ 383,000 112,000 $ 271,000 17,200 $ 253,800 85,500 $ 168,300 Net income Determine the firm's tax liability. Tax liability $ 35,343 Determine the firm's net income.

Essentials Of Investments
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
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Oakdale Fashions, Incorporated's, income statement is reported below. (Use corporate tax rate of 21 percent for your calculations.) Oakdale Fashions, Incorporated, Income Statement Net sales (all credit) Less: Cost of goods sold Gross profits Less: Other operating expenses EBITDA Less: Depreciation and amortization EBIT Less: Interest EBT Less: Taxes $ 620,000 237,000 $ 383,000 112,000 $ 271,000 17,200 $ 253,800 85,500 $ 168,300 Net income Determine the firm's tax liability. Tax liability $ 35,343 Determine the firm's net income.
Transcribed Image Text:Oakdale Fashions, Incorporated's, income statement is reported below. (Use corporate tax rate of 21 percent for your calculations.) Oakdale Fashions, Incorporated, Income Statement Net sales (all credit) Less: Cost of goods sold Gross profits Less: Other operating expenses EBITDA Less: Depreciation and amortization EBIT Less: Interest EBT Less: Taxes $ 620,000 237,000 $ 383,000 112,000 $ 271,000 17,200 $ 253,800 85,500 $ 168,300 Net income Determine the firm's tax liability. Tax liability $ 35,343 Determine the firm's net income.
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