Bullseye, Inc

question 122

Multiple Choice

Bullseye, Inc.'s 2018 income statement lists the following income and expenses: EBIT = $900,000, interest expense = $85,000, and net income = $570,000. What are the 2018 taxes reported on the income statement?

• A) $245,000
• B) $330,000
• C) $815,000
• D) There is not enough information to calculate 2018 taxes.

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Definitions:

FHLMC

The Federal Home Loan Mortgage Corporation, commonly known as Freddie Mac, is a public government-sponsored enterprise (GSE) that specializes in secondary mortgage markets by purchasing mortgages and securitizing them.

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