Question

Α E F G Billy's Exterminators, Inc., has sales of $817,000, costs of $343,000, depreciation expense of $51,000, interest expense of $38,000, and a tax rate of 21 percent. What is the net income for this firm? Sales Costs Depreciation expense Interest expense Tax rate 817,000 343,000 51,000 38,000 21% Complete the following analysis. Do not hard code values in your calculations. Income Statement Sales Costs Depreciation expense EBIT Interest expense EBT Taxes (21%) Net income

All values must be entered as an excel formula, i.e. =SUM(D12-D13)

Answer 1

OSearch 合 Share Help File Formulas Data Review View Home Insert Page Layout X Σ 7O Times New Roman14 A A aWrap Text TTY General Y L Paste Conditional Format as Insert Delete Format Sort & Find & Cell Ideas Merge & Center B IU E 0 A Formatting Table Styles Filter Select Clipboard Font Alignment Number Styles Cells Editing Ideas fe D29 X A B. C D F G H 1 2 Income Statement 3 Amount (S) Particulars 4 5 Sales 8,17,000 6 3,43,000 Less: Costs 7 Less: Depreciation Expenses 51,000 8 EBIT 4,23,000 9 Less: Interest Expenses 10 38,000 11 ЕВT 3,85,000 12 Less: Taxes at 21% 80,850 13 Net Income 3,04,150 14 15 16 17 18

Formulas OSearch File Review View Help Share Home Insert Page Layout Data ΣΕ ETrace Precedents VShow Formulas fix Define Name Calculate Now Use in Formula Trace Dependents Error Checking Calculation Insert AutoSum Recently Financial Logical Text Date & Lookup & Math & More Name Watch Calculate Sheet Remove Arrows Evaluate Formula Time Reference Triq Functions Manager Create from Selection Function Used Window Options Function Library Defined Names Formula Auditing Calculation fx C13 =+C11- C12 A В D F 1 Income Statement 2 3 Amount (S) Particulars 4 5 817000 Sales 6 Less: Costs 343000 7 Less: Depreciation Expenses 51000 - +C6-C7- C8 8 EBIT Less: Interest Expenses |ЕВT Less: Taxes at 21% Net Income 9 38000 10 = +C9- C10 =+C11*0.21 - +C11 - C12 11 12 13 14 15 16 17 18