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Question - The Harding Company manufactures skates. The company's income statement for 20X1 is as follows:
HARDING COMPANY Income Statement For the Year Ended December 31, 20X1
Sales (10,500 skates @ $60 each)
$630,000
Less: Variable costs (10,500 skates at $25)
262,500
Fixed costs
200,000
Earnings before interest and taxes (EBIT)
$167,500
Interest expense
62,500
Earnings before taxes (EBT)
$105,000
Income tax expense (30%)
31,500
Earnings after taxes (EAT)
$ 73,500
Required - Given this income statement, compute the following:
Degree of operating leverage.
Degree of financial leverage.
Degree of combined leverage.
Break-even point in units (number of skates).
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