Determining firm-s net income and ebit


Q1) Fiem's income statement comprise the data given below. Firm's average tax rate was 20%.

Cost of goods sold                 & 8,000

Income taxes paid                   2,000

Administrative expenses        1,000

Depreciation                            1,000

 a. Determine the firm's net income?

b. What should  have been firm's revenues?

c. Calculate EBIT?

Request for Solution File

Ask an Expert for Answer!!
Accounting Basics: Determining firm-s net income and ebit
Reference No:- TGS016909

Expected delivery within 24 Hours