Question: E12-38. (Learning Objectives 2, 3, 4: Using ratio data to reconstruct a companys Income Statement) The following data (dollar amounts in millions) are from the

E12-38. (Learning Objectives 2, 3, 4: Using ratio data to reconstruct a company’s Income Statement) The following data (dollar amounts in millions) are from the financial statements of County Corporation:

Average shareholders' equity............... Interest expense.... Preference shares....... Operating income as a percent

Requirement 1. Complete the following condensed Income Statement. Report amounts to the nearest million dollars.

of sales.. Rate of return on shareholders' equity Income tax rate... $3,400

Average shareholders' equity............... Interest expense.... Preference shares....... Operating income as a percent of sales.. Rate of return on shareholders' equity Income tax rate... $3,400 $ 800 $ 0 25% 12% 40%

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