Using the reformulation of the income statement (in thousands), calculate NOPAT. Assume a marginal tax rate of 25% (federal and state). $10,000 (5,000) (2,800) (350) 275 Revenue Cost of goods sold SG&A expenses R&D expenses Equity share in subsidiary income Losses on debt retirement Interest income Interest expense Income tax expense Net income (150) 50 (400) (500). $ 1,125