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Question 1 Advantage First Corporation has sales of $4,336,877; income tax of $413,025; the selling, general...

Question 1

Advantage First Corporation has sales of $4,336,877; income tax of $413,025; the selling, general and administrative expenses of $254,454; depreciation of $332,225; cost of goods sold of $2,978,072; and interest expense of $153,422. What is the amount of the firm’s EBIT?

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Answer #1
Sales                4,336,877
(-) Cost of goods sold                2,978,072
Gross profit                1,358,805
(-) Depreciation                    332,225
(-) Selling, general and administrative expense                    254,454
EBIT                    772,126
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