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Griffin's Goat Farm, Inc., has sales of $676,000, costs of $338,000, depreciation expense of $82,000, interest...

Griffin's Goat Farm, Inc., has sales of $676,000, costs of $338,000, depreciation expense of $82,000, interest expense of $51,000, and a tax rate of 24 percent.

What is the net income for this firm? (Do not round intermediate calculations.)
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Answer #1

Calculate the net income as follows Amount Formula 676,000 338,000 Particulars 2 Sales 3 Less: Costs 4 Earnings before interest and taxes, Depreciation and amortization (EBITDA) 338,000 B2-B3 5 Less: 82,000 51,000 49,200 eciation 6 Earnings before interest and taxes (EBIT 7 Less: Interest e 8 Earnings before tax 9 Less. Tax @ 24% 10 Net income 256,000 B4-B5 205,000 B6-B7 155,800 B8-B9

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