You are given the following information about XYZ Corporation:

Account Name

Value

Accounts payable

5800

Accounts receivable

10600

Accumulated depreciation

34000

Cash

17550

Common stock (10,000 shares)

46000

Cost of goods sold

6,750

Depreciation expense

600

Earnings before taxes

?????

General & admin expense

950

Gross buildings & equipment

123000

Gross profits

27,250

Interest expense

4,300

Inventories

7500

Long term debt

56000

Net buildings & equipment

89000

Net income

?????

Operating income (EBIT)

?????

Retained earnings

16250

Sales

33,000

Short term notes payable

700

Taxes @40%

8,560