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A firm's income statement include the following data. The 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. What was the firm's net income?
b. What mist have been the firm's revenues?
c. What was EBIT?
Macroeconomics is part of the economics concerned with individual units such as a person, a household, a firm of an industry"
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