This paper concentrates on the primary theme of Little Books Inc. recently reported $13 million of net income. in which you have to explain and evaluate its intricate aspects in detail. In addition to this, this paper has been reviewed and purchased by most of the students hence; it has been rated 4.8 points on the scale of 5 points. Besides, the price of this paper starts from £ 79. For more details and full access to the paper, please refer to the site.
Little Books Inc. recently reported $13 million of net income. Its EBIT was $31.2 million, and its tax rate was 35%. What was its interest expense? [Hint: Write out the headings for an income statement and then fill in the known values. Then divide $13 million net income by (1 – T) = 0.65 to find the pre-tax income. The difference between EBIT and taxable income must be the interest expense. Use this same procedure to work some of the other problems.] Round your answer to the nearest dollar, if necessary.