Use the Information Below to Answer the Following Questions About

question 38

Multiple Choice

Use the information below to answer the following questions about the Canary Cruises Corporation.
The Canary Cruises Corporation Income Statement Accounts for the year ending December 31,2017 $$\begin{array} { | l | c | } \hline \text { Account } & \text { Balance } \\\hline \text { Cost of goods sold } & \$ 345,000 \\\hline \text { rrterest expense } & \$ 79,000 \\\hline \text { Taxes } & \$ 57,100 \\\hline \text { Reverue } & \$ 836,000 \\\hline \text { Selling, general, and adrniristrative expenses } & \$ 93,000 \\\hline \text { Depreciation } & \$ 126,000 \\\hline\end{array}$$
-Refer to the Canary Cruises Corporation Corporation Income Statement Accounts.What is the EBIT for the Canary Cruises Corporation for 2017?

• A)$345,000
• B)$654,750
• C)$680,000
• D)$272,000

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