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# Evening Story Corporation Thesis

Quiz Submissions – Homework #1A (Financial Statements)

Question 1

Advantage First Corporation has sales of \$4,270,039; income tax of \$330,994; the selling, general and administrative expenses of \$251,095; depreciation of \$358,481; cost of goods sold of \$2,783,792; and interest expense of \$122,206. What is the amount of the firm’s EBIT?

Question 2

Evening Story Corporation has sales of \$4,175,188; income tax of \$527,953; the selling, general and administrative expenses of \$207,369; depreciation of \$318,655; cost of goods sold of \$2,417,855; and interest expense of \$153,049. Calculate the amount of the firm’s gross profit.

Question 3

Banana Box Corporation has sales of \$4,010,900; income tax of \$458,731; the selling, general and administrative expenses of \$273,422; depreciation of \$347,802; cost of goods sold of \$2,543,815; and interest expense of \$129,890. Calculate the amount of the firm’s income before tax?

Question 4

Garden Pro Corporation has sales of \$4,713,880; income tax of \$350,738; the selling, general and administrative expenses of \$282,512; depreciation of \$341,403; cost of goods sold of \$2,859,703; and interest expense of \$163,941. Calculate the firm’s net income?

Question 5

Killer Whale, Inc. has the following balance sheet statement items: total current liabilities of \$711,218; net fixed and other assets of \$1,640,294; total assets of \$2,873,123; and long-term debt of \$613,967. What is the amount of the firm’s current assets?