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this the entire question... no more information to provide. sustainable earnings in dollar amount from the information given. QUESTION 3 Not complete Points out of
this the entire question... no more information to provide. sustainable earnings in dollar amount from the information given.
QUESTION 3 Not complete Points out of 10.00 Measuring Sustainable Earnings Harnischfeger Corporation was a mining machinery and equipment company based in Wisconsin. The company voluntarily changed its depreciation accounting policy from the accelerated method to the straight- . line method. it disclosed the cumulative effect of this accounting policy change, equal to Il, are 3$11.005 million (net of applicable income taxes), in its financial statements In addition, the company also voluntarily changed the estimated useful lives of certain of its U.S. plant and equipment. This estimate change increased its 290077 pretax reported profit by $3.2 million. The following are selected excerpts from the company's financial statements: (in thousands) Sas Income before income taxes, equity items, and cumulative effect of accounting method change $5,738 Prv 43% tax rate Sus Provision for income taxes TRANS TaANiEquity items (2,425) Income after taxes ,313- a42 858 p 11,005 Ta Cumulative effect of change in depreciation method Texws Net income $15,176 (a) Calculate Harnischfeger's sustainable earnings. Round tax rate to the nearest whole percentage for your calculation. Example, 034567-3596) Round your answer to the nearest thousand dollar. thousandStep by Step Solution
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