Finance math help please!!
I know this is probably super easy but I am having a hard time with it. ;
1) Molteni Motors Inc. recently reported $6 million of net income. ; Its EBIT was $13 million, and its tax rate was 40%. ; What was its interest expense? ; Then divide $6 million net income by 1-T = 0.6 to find the pre-tax income. ; The difference between EBIT and taxable income must be the interest expense.
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2) Kendall Corners Inc. recently reported net income of $3.1 million and depreciation of $500,000. What was its net cash flow? ; Assume it had no amortization expense. ;