Molteni motors inc. recently reported $3.25 million of net income. its ebit was $6.25 million, and its tax rate was 35%. what was its interest expense? (hint: write out the headings for an income statement and then fill in the known values. then divide $3.25 million net income by 1 − t = 0.65 to find the pre-tax income. the difference between ebit and taxable income must be the interest expense.) enter your answer in dollars. for example, an answer of $1.2 million should be entered as 1,200,000. round your answer to the nearest dollar.

Consider the following ethical argument. which of the three statements represents the moral statement about a moral principle? statement 1: a dealership advertised a car at a very low price, but only had a similar higher priced model in stock. statement 2: it is wrong to perform a bait and switch. statement 3: the dealership was wrong to advertise the car on special sale when in actually it was not available.

Management discovers that a supervisor at one of its restaurant locations removes excess cash and resets sales totals throughout the day on the point-of-sale (pos) system. at closing, the supervisor deposits cash equal to the recorded sales on the pos system and keeps the rest. the supervisor forwards the close-of-day pos reports from the pos system along with a copy of the bank deposit slip to the company’s revenue accounting department. the revenue accounting department records the sales and the cash for the location in the general ledger and verifies the deposit slip to the bank statement. any differences between sales and deposits are recorded in an over/short account and, if necessary, followed up with the location supervisor. the customer food order checks are serially numbered, and it is the supervisor’s responsibility to see that they are accounted for at the end of each day. customerchecks and the transaction journal tapes from the pos system are kept by the supervisor for 1 week at the location and then destroyed. what control allowed the fraud to occur?

Refers to the way we conduct ourselves