What is the amount of taxes the firm paid

Reference no: EM13267094

Daniel's Fine Foods has revenue of $1,200,000. The firm has profit margins of 12%. Use the information below to build a complete income statement in proper form.

a) If the firm's tax rate is 40%, what is Jill's EBT?

b) What is the amount of taxes the firm paid?

c) The firm has operating margins of 30%. What is the company's EBIT? How much is the firm's interest expense?

d) The firm's gross profit is 4.5 times its interest expense. How much is the firm's cost of good sold, gross profit, and operating expenses?

Reference no: EM13267094

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