Shown below are selected data from the financial statements of Supreme Co. Dollar amounts are in millions (except for the per share data).
Income statement data: | |||
Net sales | $ | 1,330 | |
Cost of goods sold | $ | 545 | |
Operating expenses | $ | 465 | |
Net income | $ | 440 | |
Balance sheet data: | |||
Average total equity | $ | 2,900 | |
Average total assets | $ | 4,500 | |
Supreme reported earnings per share for the year of $3 and paid cash dividends of $3 per share. At year-end, the Wall Street Journal listed Supreme's capital stock as trading at $93 per share.
What was Supreme's operating income (in millions)?
Calculation of Operating income from the above data :
Operating Income = Net Sales - Cost of goods sold - Operating expenses
Operating Income = $1,330 - $545 - $465 = $320
Shown below are selected data from the financial statements of Supreme Co. Dollar amounts are in...
Shown below are selected data from the financial statements of Supreme Co. Dollar amounts are in millions (except for the per share data). Income statement data: Net sales Cost of goods sold Operating expenses Net income Balance sheet data: Average total equity Average total assets $1,330 $ 545 $ 465 $ 440 $2,900 $4,500 Supreme reported earnings per share for the year of $3 and paid cash dividends of $3 per share. At year-end, the Wall Street Journal listed Supreme's...
Shown below are selected data from the financial statements of Supreme Co. Dollar amounts are in millions (except for the per share data). Income statement data: Net sales $ 1,330 Cost of goods sold $ 545 Operating expenses $ 465 Net income $ 440 Balance sheet data: Average total equity $ 2,900 Average total assets $ 4,500 Supreme reported earnings per share for the year of $3 and paid cash dividends of $3 per share. At year-end, the Wall...
Shown below are selected data from the financial statements of Supreme Co. Dollar amounts are in millions (except for the per share data). Income statement data: Net sales $ 1,330 Cost of goods sold $ 545 Operating expenses $ 465 Net income $ 440 Balance sheet data: Average total equity $ 2,900 Average total assets $ 4,500 Supreme reported earnings per share for the year of $3 and paid cash dividends of $3 per share. At year-end, the Wall...
Required information [The following information applies to the questions displayed below. 1 of 4 Shown below are selected data from the financial statements of Supreme Co. Dollar amounts are in millions (except for the per share data). - eBook Tncome statement datat Net sales Cost of goods sold Operating expenses Not nec Balance sheet datat Average total equity Average total assets $1,230 $ 520 $ 440 $ 390 $2.400 $4.000 Supreme reported earnings per share for the year of $4...
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