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undefined 10 points Sav ABC is a publicly traded company listed on NASDAQ. In ABC's 10-Q and 10-K public statements, ABC disclosed that it recorded
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10 points Sav ABC is a publicly traded company listed on NASDAQ. In ABC's 10-Q and 10-K public statements, ABC disclosed that it recorded a $100 mil. pre-tax inventory write-off due to fire in the company's warehouse in 2015:Q2, it realized a $50 mil. pre-tax gain (other income") on the sale of a non-core business in 2014 Q3, it additionally realized a $40 mil. pre-tax gain (other income") on the sale of a non-core business and $20 mil. pre-tax restructuring costs in connection with a downsizing strategy in 2014 Q4. ABC company produced the following reported year-to-date (YTD) income statements during 2014-2015 period Reported YTD Income Statement 2014:03 2014:04 2015:Q3 Sales 3,500 4100 3600 COGS 2,200 2925 3000 Other Income 50 90 0 SG&A 675 700 120 Restructuring Charge 0 20 0 EBIT 675 545 480 Interest Expense 75 102 73 Pre-tax Income 600 443 407 Income Tax (38%) 228 168.34 154.66 Net Income 372 275 252 Windows 9 D Windows. Q1. What is ABC's LTM EBIT adjusted for non-recurring events given the information above ?(10 Points). A. 430 B.350 C. 480 D. 380Step by Step Solution
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