A firm's income statement included the following data. The firm's average tax rate was 20%.
|
Cost of goods sold
|
$ 8,600
|
|
Income taxes paid
|
2,600
|
|
Administrative expenses
|
3,600
|
|
Interest expense
|
1,600
|
|
Depreciation
|
1,600
|
a. What was the firm's net income?
b. What must have been the firm's revenues?
c. What was EBIT?