A firms income statement included the following data. The firms average tax rate was 25%....
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Accounting
| A firms income statement included the following data. The firms average tax rate was 25%. |
| Cost of goods sold | $ 9,500 |
| Income taxes paid | 3,500 |
| Administrative expenses | 4,500 |
| Interest expense | 2,500 |
| Depreciation | 2,500 |
| a. | What was the firms net income? |
| Net income | $ |
| b. | What must have been the firms revenues? |
| Revenues | $ |
| c. | What was EBIT? |
| EBIT | $ |
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