Your firm has the following income statement items: sales of $50,250,000; income tax of $1,744,000; operating expenses of $10,115,000

Your firm has the following income statement items: sales of $50,250,000; income tax of $1,744,000; operating expenses of $10,115,000; cost of goods sold of $35,025,000; and interest expense of $750,000. What is the amount of the firm's EBIT?

A) $15,552,000

B) $58,000,000

C) $5,110,000

D) $4,630,000

 On the income statement, sales revenue, minus cost of goods sold and operating expenses, equals which of the following?

A) Net profit

B) Retained earnings

C) Net income available to preferred shareholders

D) EBIT

Which of the following streams of income is not affected by how a firm is financed (whether with debt or equity)?

A) Net profit after tax but before dividends

B) Net working capital

C) Operating income

D) Income before tax

Which of the following is not included in computing EBT (earnings before taxes)?

A) Marketing expenses

B) Depreciation expense

C) Cost of goods sold

D) Dividends

Your firm has the following income statement items: sales of $50,250,000; income tax of $1,744,000; operating expenses of $10,115,000; cost of goods sold of $35,025,000; and interest expense of $750,000. What is the amount of the firm's gross profit?

A) $18,000,000

B) $15,225,000

C) $5,000,110

D) $6,632,000