There are some missing numbers, indicated by capital letters, in the following reformulated income statement. Amounts...
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There are some missing numbers, indicated by capital letters, in the following reformulated income statement. Amounts are in millions of dollars. The firm's marginal tax rate is 40 percent. Operating revenues 5,000 Cost of sales Other operating expenses 3,000 1,000 Operating income before tax A Tax as reported 400 Tax benefit of interest expense B Operating income after tax C Interest expense before tax Tax benefit of interest expense Interest expense after tax Comprehensive income What is the firm's comprehensive income? D (B) 60 E There are some missing numbers, indicated by capital letters, in the following reformulated income statement. Amounts are in millions of dollars. The firm's marginal tax rate is 40 percent. Operating revenues 5,000 Cost of sales Other operating expenses 3,000 1,000 Operating income before tax A Tax as reported 400 Tax benefit of interest expense B Operating income after tax C Interest expense before tax Tax benefit of interest expense Interest expense after tax Comprehensive income What is the firm's comprehensive income? D (B) 60 E
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