I need to answer the following questions...
The firm's average tax rate was 20 percent.
Cost of goods sold $8,000
Income taxes paid $2,000
Administrative expenses $3,000
Interest expense $1,000
Depreciation $1,000
What was the firm's net income?
I believe that if the tax is 20%, and it says income tax paid was 2000, then the gross income would be 10,000. The net would be 10K becasue all the data is liabilities, therefore its untaxed...
what must have been the firm's revenues?
What's the EBIT?
2006-06-10
07:52:01
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1 answers
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asked by
C J
1