1. Advantage First Corporation has sales of $4,951,020; income tax of $548,075; the selling, general and administrative expenses of $294,062; depreciated of $351.832; cost of goods sold of $2,888,980; and interest expenses of $150,125. What is the amount of the firm's EBIT?
2. Evening Story Corporation has sales of $,412,340; income tax of $541,372; the selling, general and adminstrative expenses of $297,864; depreciation of $353,647; cost of goods sold of $2,414,240; and interest expense of $144,193. Calculate the amount of the firm's gross profit.