Sidebar Corp Balance Sheet as at 30th June Sidebar Corp Income Statement for year ending 30th June 2013 $m Sales 405 COGS 100 Depreciation 34 Rent expense 22 Interest expense 39 Taxes at 30% 63 Net income 147 Inventory Trade debtors Rent paid in advance PPE Total assets 2013 $m 50 16 3 680 749 19 390 Trade creditors Bond liabilities Contributed equity Retained profits Total L and OE 220 120 749 Note: All figures are given in millions of dollars ($m). Which of the below statements is NOT correct? Select one: a. Gross profit is $305m. b. Net operating profit after tax (NOPAT=EBIT*(1-tc)) is $147m O c. EBIT is $249m. O d. EBITDA is $283m