Use the following Income Statement and Balance Sheet of firm X
to answers Questions (1) & (2)
Income Statement, 2016
Balance Sheet, 2016
Sales
5,000,000
Assets
Costs except Depr.
-3,500,000
Cash and Equivalents
1,096,000
EBITDA
1,500,000
Accounts Receivable
960,000
Depreciation
-10,900
Inventories
90,000
EBIT
1,489,100
Total Current Assets
2,146,000
Interest Expense (net)
-100,500
Property Plant & Equipment
2,190,000
Pretax Income
1,388,600
Total Assets
4,336,000
Income Tax
-486,010
Liabilities &Equity
Net Income
902,590
Accounts Payable
900,000
Debt
950,000
Total Liabilities
1,850,000...