Following is the 2006 income statement for Target Corporation. Assume that the tax rate is 38.3%. Sales Cost of Sales Gross Profit Selling, General and Administrative Depreciation and Amortization Operating Income Net Interest Expense. Income Before Taxes Provision for Taxes Net Income 52,620 34.927 17,693 11.185 2.185 4,323 463 3,860 1.452 2,408

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Question
2.
Following is the 2006 income statement for Target Corporation. Assume that the tax rate is 38.3%.
Sales
Cost of Sales
Gross Profit
Selling, General and Administrative
Depreciation and Amortization
Operating Income
Net Interest Expense
Income Before Taxes
Provision for Taxes
Net Income
52,620
34.927
17,693
11,185
2185
4,323
3,860
1452
2,408
Transcribed Image Text:2. Following is the 2006 income statement for Target Corporation. Assume that the tax rate is 38.3%. Sales Cost of Sales Gross Profit Selling, General and Administrative Depreciation and Amortization Operating Income Net Interest Expense Income Before Taxes Provision for Taxes Net Income 52,620 34.927 17,693 11,185 2185 4,323 3,860 1452 2,408
What is Target's NOPAT for 2006?
O $3,860
O None of the other answers.
$2,871
$2,694
4
Transcribed Image Text:What is Target's NOPAT for 2006? O $3,860 O None of the other answers. $2,871 $2,694 4
Expert Solution
steps

Step by step

Solved in 3 steps

Blurred answer
Knowledge Booster
Determination of Tax Liability
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education