Advantage First Corporation has sales of $4,950,263; income tax of $486,389; the selling, general and administrative...

Advantage First Corporation has sales of $4,950,263; income tax of $486,389; the selling, general and administrative expenses of $287,844; depreciation of $333,009; cost of goods sold of $2,984,391; and interest expense of $160,080. What is the amount of the firm’s EBIT?

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Expert Solution

EBIT = SALES - COST OF GOODS SOLD - SELLING GENERAL AND ADMINISTRATIVE EXPENSES - DEPRECIATION

	EBIT CALCULATION

	SALES	4950263
LESS	COGS	2984391
	EBITDA	1965872
LESS	SELLING EXPENSES	287844
LESS	DEPRECIATION	333009
	EBIT	1345019

jeff jeffy answered 1 year ago

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