Answer Happy

Question 3 Use the information below to answer the following questions about the Canary Cruises Corporation. a. The Canary Cruises Corporation Income Statement Accounts for the year ending December 31, 2017 Account Balance Cost of goods sold $345,000 Interest expense $79,000 Taxes $57,100 Revenue $836,000 $93,000 Selling, general, and administrative expenses Depreciation $126,000 i. What is the net income for the Canary Cruises Corporation for 2017? (3 marks) ii. What is the operating cash flow for the Canary Cruises Corporation for 2017? (3 marks) iii. What is the EBIT for the Canary Cruises Corporation for 2017? (2 marks) b. Why is an understanding of cash flow statements so in portant in the study of finance? (3 marks) c. What does it mean to benchmark by industry? Why is this needed when conducting (4 marks) a financial ratio analysis?