Question: The following data relate to GenMet, a U.S.-based consumer goods manufacturing firm, for the fiscal year ending October 31, 2013. Reported amounts are in millions

The following data relate to GenMet, a U.S.-based consumer goods manufacturing firm, for the fiscal year ending October 31, 2013. Reported amounts are in millions of U.S. dollars ($).

GenMet incurred manufacturing costs (direct material, direct labor, manufacturing overhead) during fiscal 2013 totaling $2,752.0. Sales revenue was $6,700.2. selling and administrative expenses were $2,903.7 and interest expense was $151.9. The income tax rate is 35%. Round arithmetic computations to one digit after the decimal point. Compute Gen- Met's net income for fiscal year 2013.

October 31, 2013 S101.5 119.1 322.3 October 31, 2012 S 73.7 100.8 286.2

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