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answer the following question Problem 3-3 Balance Sheet...

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Accounting

answer the following question
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Problem 3-3 Balance Sheet (LO1) Construct a balance sheet for Sophie's Sofas given the following data, including shareholders' equity. A firm's income statement included the following data. The firm's average tax rate was 25%. a. What was the firm's net income? b. What must have been the firm's revenues? c. What was EBIT? Sheryl's Shipping had sales last year of $20,000. The cost of goods sold was $8,500, general and administrative expenses were $3,000, interest expenses were $2,500, and depreciation was $3,000. The firm's tax rate is 21%. a. What are earnings before interest and taxes? b. What is net income? c. What is cosh flow from operations? A firm's income statement included the following data. The firm's average tax rate was 20%. a. What was the firm's net income? b. What must have been the firm's revenues? Revenues c. What was EBIT

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