BUSN

4. For this question, use the information for Sports Baseballs, Inc. Sports Baseballs, Inc. is a corporation that manufacturers and sells baseballs across several states in the Southeast. It had sales of $2.7 million during the last year. Expenses were as follows:
Cost of goods sold............................... $1.2 million
Administrative expenses........................ $250,000
Marketing and selling expenses............... $175,000
Depreciation........................................ $500,000
Interest expense.................................. $200,000
Dividends paid..................................... $150,000
(TCO 1) Assuming a tax rate of 30%, what is the EBIT and taxable income for the year?

(Points : 3)
$1,000,000 and $800,000 respectively
$575,000 and $375,000 respectively
$565,000 and $365,000 respectively
$425,000 and $225,000 respectively
None of the above
fOR THIS ONE I CHOOSE NONE OF THE ABOVE

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  1. $1,000,000 and $800,000 respectively

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