Billy's Exterminators, Inc., has sales of $734,000, costs of $315,000, de of $48.000, interest expense of...

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Billys Exterminators, Inc., has sales of $734,000, costs of $315,000, de of $48.000, interest expense of $35,000, and a tax

Complete the following analysis. Do not hard code values in your answers. Income Statement Sales Costs Depreciation expense E

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Answer 1

Answer #1

Income Statement
Sales	$734,000
Less: Costs	($315,000)
Less: Depreciation Expense	($48,000)
Earnings Before Interest and Taxes (EBIT)	$371,000
Less: Interest Expense	($35,000)
Earnings before Tax (EBT)	$336,000
Less: Taxes ($336,000*35/100)	($117,600)
Net Income	$218,400

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Answer 2

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