Statement of Income: 2020 Sales $6,230.0 CoGS 3,050.0 One-time inventory adjustment 300.0 Gross Margin 2,880.0 SG&A 2,130.0
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Question:
Statement of Income:
2020
Sales $6,230.0
CoGS 3,050.0
One-time inventory adjustment 300.0
Gross Margin 2,880.0
SG&A 2,130.0
Depreciation 490.0
Op Income 260.0
Interest expense 125.0
Pre-tax Income 135.0
Taxes 27.0
Net income $108.0
Based on the following assumptions, what is the expected change (%) in reported net income in 2021
How much is recurring operating margin projected to change in 2021 (bps)? What does this mean?
Expert Answer:
Answer To calculate the expected change in reported net income in 2021 we need to make assumptions about how each item will change Here are the steps ... View the full answer
Related Book For 
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
