Question
Statement of Income: 2020 Sales $6,230.0 CoGS 3,050.0 One-time inventory adjustment 300.0 Gross Margin 2,880.0 SG&A 2,130.0 Depreciation 490.0 Op Income 260.0 Interest expense 125.0
Statement of Income:
2020
Sales $6,230.0
CoGS 3,050.0
One-time inventory adjustment 300.0
Gross Margin 2,880.0
SG&A 2,130.0
Depreciation 490.0
Op Income 260.0
Interest expense 125.0
Pre-tax Income 135.0
Taxes 27.0
Net income $108.0
Based on the following assumptions, what is the expected change (%) in reported net income in 2021
How much is recurring operating margin projected to change in 2021 (bps)? What does this mean?
Step by Step Solution
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Step: 1
Answer To calculate the expected change in reported net income in 2021 we need to make assumptions about how each item will change Here are the steps ...
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Step: 2
Step: 3
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
