Fill in the missing numbers for the following income statement. (Input all amounts as positive values. Do not round intermediate calculations.) a.Calculate the OCF. (Do not round intermediate calculations.) b.What is the depreciation tax shield

Full question:

Fill in the missing numbers for the following income statement. (Input all amounts as positive values. Do not round intermediate calculations.)

Sales $ 687,900

Costs $442,800

Depreciation $115,400

EBIT $

Taxes (30%)

Net income $

OCF

What is the depreciation tax shield?

Answer:

Operating Cash Flow(OCF)= $206190

Depreciation tax shield = $34620

Explanation:

To calculate Depreciation tax shield:

Depreciation×tax rate= $115400×0.30=$34620

Operating Cash flow(OCF)= Earnings before interest and taxes(EBIT)+depreciation - income tax expense

So we calculate EBIT and Income tax expense

EBIT= Sales - cost of good sold - depreciation expense

= $ 687,900-$442,800-$115,400= $129,700

Income tax expense= (Sales - cost of goods sold - depreciation expense) × tax rate

=($687900-$442800-$115400)×0.30

=$38910

Therefore, Operating Cash flow(OCF)= $129,700+$$115,400-$38910= $206190

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Debit Credit
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