Net Operating Profit after Tax (NOPAT)

Use the following income statement of Elliott Game Theory Consulting to determine its net operating profit after taxes (NOPAT). Use 25% as the tax rate.

Elliot Game Theory Consulting Income Statement for Year Ending December 31
		2020
Sales		$500,000
Operating costs excluding depreciation		300,000
Depreciation and amortization		40,000
Earnings before interest and taxes		$160,000
Less interest		11,000
Pre-tax income		$149,000
Taxes (25%)		37,250
Net income available to common stockholders		$111,750

Round your answer to the nearest dollar.

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