Question: I have this same problem INCOME STATEMENT(Figures in $ millions)Net sales$891.00 Cost of goods sold751.00 Depreciation41.00 Earnings before interest and taxes (EBIT)$99.00 Interest expense22.00 Income

I have this same problem

INCOME STATEMENT(Figures in $ millions)Net sales$891.00

Cost of goods sold751.00

Depreciation41.00

Earnings before interest and taxes (EBIT)$99.00

Interest expense22.00

Income before tax$77.00

Taxes26.95

Net income$50.05

BALANCE SHEET

(Figures in $ millions)

End of Year Start of Year

Assets

Current assets $379 $332

Long-term assets $278 $232

Total assets $657 $564

Liabilities and shareholders' equity

Current liabilities $204 $167

Long-term debt $118 $131

Shareholders' equity $335 $266

Total liabilities and shareholders' equity $657 $564

The company's cost of capital is 8%.

a. Calculate Watervan's economic value added (EVA). (Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.)

In my assignment there are some different numbers

Interest expense is $18

Net Income $67.15

Shareholders Equity is $262

Current Liabilities is $163

From my assignment

Here are simplified financial statements for Watervan Corporation:

INCOME STATEMENT(Figures in $ millions)Net sales$887.00

Cost of goods sold747.00

Depreciation37.00

Earnings before interest and taxes (EBIT)$103.00

Interest expense18.00

Income before tax$85.00

Taxes17.85

Net income$67.15

BALANCE SHEET(Figures in $ millions)End of YearStart of YearAssetsCurrent assets$375

$324

Long-term assets270

228

Total assets$645

$552

Liabilities and shareholders' equityCurrent liabilities$200

$163

Long-term debt114

127

Shareholders' equity331

262

Total liabilities and shareholders' equity$645

$552

The company's cost of capital is 8.5%.

a.Calculate Watervan's economic value added (EVA).(Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.)

I keep getting 42.725 and putting in 42.73 I keep getting it's not correct. I don't get what I am doing wrong

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