1. Your firm has the following balance sheet statement items: total current liabilities of $805,000; total assets of $2,464,340; net fixed assets of $1,805,280; and long-term debt of $200,000. What is the amount of the firm's total current assets?

2. Your firm has the following income statement items: sales of $55,609,373; income tax of $2,120,584; operating expenses of $12,412,399; cost of goods sold of $31,111,667; and interest expense of $214,767. What is the amount of the firm's EBIT?