Question: Can you help me solve this general accounting problem with the correct methodology? The Summit Electronics Company reported the following figures for the year ended

Can you help me solve this general accounting problem with the correct methodology?

The Summit Electronics Company reported the following figures for the year ended December 31, 2023 (all figures in millions): Sales revenue: $22,480 Cost of goods sold: $15,750 Operating expenses (excluding cost of goods sold): $4,630 What is Summit's net income for the year ended December 31, 2023

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