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Sheryl’s Shipping had sales last year of $14,500. The cost of goods sold was $7,400, general...

Sheryl’s Shipping had sales last year of $14,500. The cost of goods sold was $7,400, general and administrative expenses were $1,900, interest expenses were $1,400, and depreciation was $1,900. The firm’s tax rate is 21%.

A. What are the earnings before interest and taxes?

B. What is net income?

C. What is cash flow operations?

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A) earnings before interest and taxes 3300.00
B) net income 1501.00
C) cash flow operations 3401.00
SALES 14500.00
LESS COST OF GOODS SOLD 7400.00
LESS GENERAL AND ADMIN. EXPENSE 1900.00
LESS DEPRECIATION 1900.00
INCOME BEFORE INTEREST AND TAX 3300.00
LESS INTEREST 1400.00
INCOME BEFORE TAX 1900.00
LESS TAX @ 21% 399.00
NET INCOME 1501.00
ADD DEPRECIATION 1900.00
OPERATING CASH FLOW 3401.00
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