None Vinny's Overhead Construction had free cash flow during 2021 of $34.7 million. The change in gross fixed assets on Vinny's balancesheet during 2021 was $6.0 million and the change in net operating working capital was $7.0 million.Calculate the missing amounts on Vinny's income statement below. (Enter your answers in millions of dollars rounded to 2 decimalplaces.)Net salesVINNY'S OVERHEAD CONSTRUCTION, CORP.Income Statement for Year Ending December 31, 2021(in millions of dollars)Less: Cost of goods sold127.10Gross profits$77.00Less: Other operating expenses13.40Earnings before interest, taxes, depreciation, and amortization (EBITDA)$63.60Less: Depreciation10.60Earnings before interest and taxes (EBIT)Less: InterestEarnings before taxes (EBT)Less: TaxesNet income$28.34

The income statement provides a summary of revenues, expenses, gains, and losses incurred by the…

Vinny's Overhead Construction had free cash flow during 2021 of $34.7 million. The change in gross fixed assets on Vinny's balance sheet during 2021 was $6.0 million and the change in net operating working capital was $7.0 million. Calculate the missing amounts on Vinny's income statement below. (Enter your answers in millions of dollars rounded to 2 decimal places.) VINNY'S OVERHEAD CONSTRUCTION, CORP. Income Statement for Year Ending December 31, 2021 (in millions of dollars) Net sales Less: Cost of goods sold 127.10 Gross profits $ 77.00 Less: Other operating expenses 13.40 Earnings before interest, taxes, depreciation, and amortization (EBITDA) $ 63.60 Less: Depreciation 10.60 Earnings before interest and taxes (EBIT) Less: Interest Earnings before taxes (EBT) Less: Taxes Net income S 28.34

Vinny's Overhead Construction had free cash flow during 2021 of $34.7 million. The change in gross fixed assets on Vinny's balance sheet during 2021 was $6.0 million and the change in net operating working capital was $7.0 million. Calculate the missing amounts on Vinny's income statement below. (Enter your answers in millions of dollars rounded to 2 decimal places.) VINNY'S OVERHEAD CONSTRUCTION, CORP. Income Statement for Year Ending December 31, 2021 (in millions of dollars) Net sales Less: Cost of goods sold 127.10 Gross profits $ 77.00 Less: Other operating expenses 13.40 Earnings before interest, taxes, depreciation, and amortization (EBITDA) $ 63.60 Less: Depreciation 10.60 Earnings before interest and taxes (EBIT) Less: Interest Earnings before taxes (EBT) Less: Taxes Net income S 28.34

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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