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Sales $ 2 5 6 , 5 0 0 Selling and Administrative expenses $ 2 3 , 0 0 0 R & D expense $

Sales
$256,500
Selling and Administrative expenses
$23,000
R&D expense
$5,000
Interest expense
$800
Losses on derivatives ( OCl item) $1,600
Income tax expense
$28,500
Cost of goods sold
112,000
Taxes
30%
Average shareholder equity
$500,000
Compute NOPAT
$112,500
$87,200
$87,760
$116,500
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