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Kwill Pens, Inc. produces the following income statement and balance sheet for the year. The company has a tax rate of 35% and a cost
Kwill Pens, Inc. produces the following income statement and balance sheet for the year. The company has a tax rate of 35% and a cost of capital of 10.25%. Income Statement ($ millions) Balance Sheet ($ millions) Net sales Expenses Depreciation EBIT Interest expense Taxable income Taxes (35%) Net income $2,500.00 600.00 300.00 $1,600.00 450.00 Assets Current assets Net fixed assets Total assets $1,250.00 1,875.00 $3,125.00 $ 1150.00 Liabilities &Owner's Equity 402.50 $ 747.50 Current liabilities Long-term debt Owner's equity Total liabilities and equity $3,125.00 $1,000.00 1,375.00 750.00 a. What is the company's after-tax operating income? (Enter your answer in millions and round to two decimal places.) After-tax operating income million
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