= EBIT $20,000 - operating expenses = $10,000 Operating expenses = $10,000 Net income before taxes = EBIT - interest = $10,000 - $2,000 = $8,000 Taxes = tax rate x net income before taxes = 40% x $8,000 = $3,200 Net income after taxes = net income before taxes - taxes = $8,000 - $3,200 = $4,800 CAMILLE TOY COMPANY Income Statement Sales
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