A useful skill to develop is that of writing out a quick, simple, general income statement. Here is an example that you should be able to reproduce in 10 – 15 seconds during the exam: \begin{align}&\ \ Sales\\ &\underline{–\ COGS}\\ &=\ Gross\ Profit\\ &\underline{–\ SG\&A}\\ &=\ EBITDA\\ &–\ Depreciation\\ &\underline{–\ Amortization}\\ &=\ EBIT\\ &\underline{–\ Interest}\\ […]

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