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Calculating Economic Value Added East Mullett Manufacturing earned operating income last year as shown in the following income statement: Sales Cost of goods sold LGO
Calculating Economic Value Added East Mullett Manufacturing earned operating income last year as shown in the following income statement: Sales Cost of goods sold LGO ALGO $630,000 380,000 $250,000 174,400 75,600 30,240 45,360 ALGO Gross margin Selling and administrative expense LGO Operating income LGO Less: Income taxes (@ 40%) LGO Net income LGO
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