Given the income statement below, Mega Trade Inc. wants to find the resulting net income for the year 2016 (in million). What is the right amount? Income Statement ($ Million) YEAR END YEAR END YEAR END YEAR END 2015 2016 2017 2018 Sales 1,234.90 1,251.70 1,300.40 1,334.40 Cost Sales -679.1 -659 -681.3 -667 Gross Operating Income Selling & Administration -339.7 -348.6 -351.2 -373.3 Depreciation -47.5 -52 -55.9 -75.2 Other Income/Expenses 11.8 7.6 7 8.2 Earnings Before Interest and Taxes Interest Income 1.3 1.4 1.7 2 Interest Expense -16.2 -15.1 -20.5 -23.7 Pre Tax Income Income Taxes -56.8 -64.2 -67.5 -72.6 Net Income Dividends -38.3 -38.7 -39.8 -40.1
Given the income statement below, Mega Trade Inc. wants to find the resulting net income for the year 2016 (in million). What is the right amount? Income Statement ($ Million) YEAR END YEAR END YEAR END YEAR END 2015 2016 2017 2018 Sales 1,234.90 1,251.70 1,300.40 1,334.40 Cost Sales -679.1 -659 -681.3 -667 Gross Operating Income Selling & Administration -339.7 -348.6 -351.2 -373.3 Depreciation -47.5 -52 -55.9 -75.2 Other Income/Expenses 11.8 7.6 7 8.2 Earnings Before Interest and Taxes Interest Income 1.3 1.4 1.7 2 Interest Expense -16.2 -15.1 -20.5 -23.7 Pre Tax Income Income Taxes -56.8 -64.2 -67.5 -72.6 Net Income Dividends -38.3 -38.7 -39.8 -40.1
Chapter5: Evaluating Operating And Financial Performance
Section: Chapter Questions
Problem 7EP
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Question
Given the income statement below, Mega Trade Inc. wants to find the resulting net income for the year 2016 (in million). What is the right amount? | |||||||
Income Statement ($ Million) | |||||||
YEAR END | YEAR END | YEAR END | YEAR END | ||||
2015 | 2016 | 2017 | 2018 | ||||
Sales | 1,234.90 | 1,251.70 | 1,300.40 | 1,334.40 | |||
Cost Sales | -679.1 | -659 | -681.3 | -667 | |||
Gross Operating Income | |||||||
Selling & Administration | -339.7 | -348.6 | -351.2 | -373.3 | |||
Depreciation | -47.5 | -52 | -55.9 | -75.2 | |||
Other Income/Expenses | 11.8 | 7.6 | 7 | 8.2 | |||
Earnings Before Interest and Taxes | |||||||
Interest Income | 1.3 | 1.4 | 1.7 | 2 | |||
Interest Expense | -16.2 | -15.1 | -20.5 | -23.7 | |||
Pre Tax Income | |||||||
Income Taxes | -56.8 | -64.2 | -67.5 | -72.6 | |||
Net Income | |||||||
Dividends | -38.3 | -38.7 | -39.8 | -40.1 |
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