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Your firm has the following income statement items: sales of $40,266,215; income tax of $1,486,949; total...

Your firm has the following income statement items: sales of $40,266,215; income tax of $1,486,949; total operating costs and depreciation of $11,744,431; and interest expense of $683,626. What is the amount of the firm's EBIT?

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Answer #1

Earnings Before Interest and Taxes = Sales - total operating costs and depreciation

EBIT =42266215-11744431

EBIT =30,521,784

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