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What is alvear corps operating income for the year ended

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Reference no: EM132097715

Question - Francisco Olivas of Olivas Medical Supply Company was reading the financial statements of Alvear Corp. to decide whether he wanted to try to acquire the company. He noticed some mistakes in the Alvear Corp. Income Statement:

($ millions)

Year ended 12/31/2015

Sales revenue

$1200

Gain on sale of equipment

200

Total Revenue

1400

Cost of Goods Sold

(800)

Gross Profit

600

SG&A Expense

(400)

Interest Expense

(50)

Operating Income

150

Interest Revenue

20

Pre-tax income

170

Income Tax Expense

(61)

Net Income

109

What is Alvear Corp.'s Operating Income for the year ended 12/31/2015 after correcting the mistakes?

$0

$170

($50)

($30)

$200

Reference no: EM132097715

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