Electronic Fab Technology (EFT) is a leader in information technology. EFT reported the following results for 2000,
Question:
Electronic Fab Technology (EFT) is a leader in information technology. EFT reported the following results for 2000, as summarized below (dollars in thousands):
Year Ended December 31 2000 1999 Net sales $52,541,842 $29,816,626 Cost of goods sold 47,123,066 25,688,263 Gross profit 5,418,776 4,128,363 Selling, general and administrative 2,395,164 1,842,442 Operating income 3,023,612 2,285,921 Other income (expense):
Interest expense (175,400) (236,917)
Interest income 78,933 0 Other, net 31,187 (11,723)
Total other income (expense) (65,280) (248,640)
Income before income taxes 2,958,332 2,037,281 Income tax expense 1,041,415 736,612 Net income $ 1,916,917 $ 1,300,669 Weighted average shares outstanding 3,626,845 2,483,000
Step by Step Answer:
Financial Accounting Reporting And Analysis
ISBN: 9780324149999
6th Edition
Authors: Earl K. Stice, James Stice, Michael Diamond, James D. Stice