1. Iris Income Statement
Cost of Goods Sold 330
Depreciation Expense 35
Interest Expense 20
Operating Expense (excluding depreciation) 115
Sales 690
What was Iris Inc. earnings before interest and taxes (EBIT)
2. Iris Balance Sheet
Accounts Payable 65
Accounts Receivable 60
Accumulated Depreciation (175)
Cash 27
Common Stock 120
Fixed Assets (gross) 390
Inventory 122
Long-Term Debt 200
Retained Earnings 65
What is Iris Inc.’s Total Assets.