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.
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.
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