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Q1) Fiem's income statement comprise the data given below. Firm's average tax rate was 20%.

Cost of goods sold                 & 8,000

Income taxes paid                   2,000

Administrative expenses        1,000

Depreciation                            1,000

 a. Determine the firm's net income?

b. What should  have been firm's revenues?

c. find out EBIT?

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  • Category:- Accounting Basics
  • Reference No.:- M916909

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