Income computation for a manufacturing firm. The following data relate to Rockwell International Corporation for a single year (amounts in millions):

The company incurred manufacturing costs (direct material used, direct labor, and manufacturing overhead) during the year totaling \(\$ 8,771\). Sales revenue was \(\$ 11,123\), marketing and administrative expenses were \(\$ 1,409\), and interest expenses were \(\$ 100\). The income tax rate is 35 percent. Compute net income for the year.

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October 1 September 30 Raw Materials Inventory $492 $473 Work-in-Process Inventory $850 $920 Finished Goods Inventory $330 $356