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lions [1.4K]
2 years ago
7

Southern Markets has sales of $78,400, net income of $2,400, costs of goods sold of $43,100, and depreciation of $6,800. What is

the common-size statement value of EBIT?
Business
1 answer:
Helen [10]2 years ago
3 0

Answer:

36.35%

Explanation:

According to the scenario, computation of the given data are as follows,

Sales = $78,400

Net income = $2,400

Cost of goods sodl = $43,100

Depreciation = $6,800

So, we can calculate the EBIT value by using following formula:

= EBIT ÷ Sales

= ($78,400  - $43,100 - $6,800) ÷ ($78,400)

= $28,500 ÷ $78,400

= 36.35%

Hence, the common-size statement value of EBIT is 36.35%

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