Calculating Economic Value Added East Mullett Manufacturing eaned operating income last year as shown in the following income statement: Sales Cost of goods sold $630,000 380,000 $250,000 174,400 $75,600 30,240 45,360 Total capital employed equaled $419,000. East Mullett's actual cost of capital is 8 percent Gross margin Selling and administrative expense Operating income Less: Income taxes (@ 40%) Net income Required: Calculate the EVA for East Mullett Manufacturing. Check My Work 3 more Check My Work uses remaining