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The preliminary 2016 income statement of Alexian Systems. Inc., is presented below: Additional information: Selling and administrative expenses include dollar 33 million in restructuring costs.

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The preliminary 2016 income statement of Alexian Systems. Inc., is presented below: Additional information: Selling and administrative expenses include dollar 33 million in restructuring costs. Included in other income is dollar 120 million in income from a discontinued operation. This consists of dollar 90 million in operating income and a dollar 30 million gain on disposal. The remaining dollar 13 million is from the gain on sale of investments. Cost of goods sold was increased by dollar 10 million to correct an error in the calculation of 2015's ending inventory. The amount is material. Required: Prepare a revised income statement for 2016 rejecting the additional facts. Use a multiple-step format. Assume that an income tax rate of 30% applies to all income statement items and that 28 million shares of common stock were outstanding throughout the year (Enter your answers in millions except earnings per share. Round EPS answers to 2 decimal places.)

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