Question

a. Fill in the missing numbers in the following income statement: (Do not round intermediate calculations...

a.

Fill in the missing numbers in the following income statement: (Do not round intermediate calculations and round your answers to the nearest whole number, e.g. 32.)

sales = $565,600

costs = $356,800

Depreciation= $105,700

Ebit = ?

Taxes (24%) =?

net Income = ?

What is the EBIT, taxes at 24%, and net income?

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Answer #1
Particulars Amount
Sales          565,600
Less: Costs          356,800
Gross Profit          208,800
Less: Depreciation          105,700
EBIT          103,100
Less: Tax @ 24%            24,744
Net Income            78,356
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