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Last Exam Inc. 2 0 X 8 Income Statement ( in $millions ) Sales 5 , 3 1 8 Cost of Goods Sold ( 1
Last Exam Inc.
X Income Statement in $millions
Sales
Cost of Goods Sold variable
Operating Expense fixed
Earnings Before Interest and Taxes
Interest Expense
Earnings Before Taxes
Taxes
Net Income
What is the DFL of Last Exam Inc.? Assume Cost of Goods Sold is variable cost and Operating Expense is fixed cost.
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