Question: Hello! I'm having trouble with this practice question. Thank you for your help! Global Corp. initially projected the 2019 income statement shown in the table
Hello! I'm having trouble with this practice question. Thank you for your help!


Global Corp. initially projected the 2019 income statement shown in the table Suppose that in 2019, Global launched an aggressive marketing campaign that boosted 2019 sales further by 15.5%. However, their operating margin fell from 6.41% to 4.45% Suppose that they had no other income, interest expenses were unchanged, and taxes were the same percentage of pretax income (26%) as in 2018. a. What was Global's EBIT in 2019? b. What was Global's income in 2019? c. If Global's P/E ratio (18.0) and number of shares outstanding (3.6 million) remained unchanged, what was Global's share price in 2019? ... a. What was Global's EBIT in 2019? Global's EBIT was $ million. (Round to two decimal places.) b. What was Global's income in 2019? Net income was $ million (Round to two decimal places.) c. If Global's P/E ratio (18.0) and number of shares outstanding (3.6 million) remained unchanged, what was Global's share price in 2019? Global's share price in 2019 was $ . (Round to the nearest cent.) $ - Data table n GLOBAL CORPORATION Income Statement Year ended December 31 (in $ millions) 2019 Net sales 186.7 Cost of sales - 151.8 Gross profit 34.9 Selling, general, and administrative expenses - 13.5 Research and development -8.2 Depreciation and amortization - 1.2 Operating income 12.0 Other income Earnings before interest and taxes (EBIT) 12.0 Interest income (expense) -7.7 Pretax income Taxes - 1.1 Net income 3.2 Earnings per share $0.89 Diluted earnings per share: $0.86 2018 176.1 - 147.3 28.8 - 13.0 -7.6 - 1.1 7.1 4.3 7.1 -4.6 2.5 -0.6 1.9 $0.53 $0.50
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