Calculate Operating Income After Tax
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Question 1
From the following income statement (in millions), calculate operating income after tax using both the top-down and bottom-up methods. Use a tax rate of 37 percent.
Revenue $ 6,450
Cost of goods sold (3,870)
Operating expenses (1,843)
Interest expense (135)
Income taxes (181)
Net income S 421
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Top Down Method
Operating Income = Revenue - COGS - Operating Expenses = ...
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