Reference no: EM131578428

Question 1 - If Cleveland Motors Had an EBIT of $22,638,400, Interest of $7,245,000 and is taxed at an average rate of 32% what is their Net Income?

Question 2 - Using the information below -- what was Bala Industries' Cash Flow from Financing for the year ending 6/30/2011?

Increase in inventories                       $25

Purchased treasury stock                    $27

Purchased property & equipment          $25

Net Income                                         $331

Decrease in accrued income taxes         $45

Depreciation & amortization                  $116

Decrease in accounts payable               $14

Increase in accounts receivable            $28

Increase in Long-term debt                  $103

Question 3 - Delta Ray Brands Corp. just completed their latest fiscal year. The firm had sales of $17,084,000. Depreciation and amortization was $896,000, interest expense for the year was $802,500, and selling general and administrative expenses totaled $1,567,200 for the year, and cost of goods sold was $10,881,200 for the year. Assuming a federal income tax rate of 34%, what was the Delta Ray Brands net income after-tax?