Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:7. Calculate the ETR and the normalized ETR for Easy Ltd.
Easy Ltd's income statement
Revenues
Cost of goods sold
Gross profit
SG&A
Operating profit
143,492.9
92,857.1
50,635.7
42,778.6
7,857.1
2,740.7
5,116.4
2,750.7
2,365.7
Interest expense
Profit before tax
Тах еxpense
Net income/profit after tax
In the footnotes, there is embedded COGS of a non-recurring charge of 42,988. You
also know that the marginal tax rate is 32%.
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