Question
1. Examine Molson Coors income statements for 2013 and 2012 and the relevant notes to the financial statements. a. Identify items that you consider nonoperating.
1. Examine Molson Coors income statements for 2013 and 2012 and the relevant
notes to the financial statements.
a. Identify items that you consider "nonoperating." Explain each item briefly.
b. Calculate the total after-tax amount of the nonoperating items you identified.
To simply this calculation, assume that the company's three-year marginal
tax rate (federal, state and foreign) of 12% applies to nonoperating items in
both years. Note: some nonoperating items are reported net of tax on the
income statement. Use the marginal tax only for the items that are reported
"before tax" on the income statement.
c. Calculate net operating profit after tax (NOPAT) for 2013 and 2012. Hint:
net operating profit after tax is calculated as net income before the effect of
the after-tax amount of nonoperating items.
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