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Consolidated Statements of Income Years ended December 31 ($ millions) 2008 2007 2009 Net sales $23,123 $25,269 $24,462 Operating expenses Cost of sales 12,109 13,379
Consolidated Statements of Income Years ended December 31 ($ millions) 2008 2007 2009 Net sales $23,123 $25,269 $24,462 Operating expenses Cost of sales 12,109 13,379 12,735 Selling, general and administrative expenses 4,907 5,015 5,245 Research, development and related expenses 1,293 1,404 1,368 23 (849) Loss/(gain) from sale of business 18,309 20,051 18,269 Total operating expenses 4,814 5,218 6,193 Operating income Interest expenses and income nterest expense 219 215 210 (37) (105) (132) Interest income 182 110 78 Total interest expense Income before income taxes 4,632 5,108 6,115 1,388 1,588 1,964 Provision for income taxes Net income including noncontrolling interest 3,244 3,520 4,151 51 60 55 Less: Net income attributable to noncontrolling interest $3,193 $ 3,460 $4,096 Net income (a) Compute net operating profit after tax (NOPAT) for 2009. Assume that the combined federal and statutory rate is: 36.1% (Round your answer to the nearest whole number.) ($ millions) 3,076 2009 NOPAT =|
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