The following data will be used to answer Questions 5-8. It will be repeated in each question. It is January 1, 2017 and Pegasus is contemplating the acquisition of competitor Chimera. The following details are available ($ in millions except per share data): January 1, 2017 ($ in millions) Pegasus Chimera GAAP revenue $150.40 $112.00 GAAP net income $14.04 $9.92 Tax rate 40% 35% What is 2017 pro forma (combined) GAAP pre-tax income? O 9.09 O 21.66 O 36.86 O 38.66 O 39.93

The following data will be used to answer Questions 5-8. It will be repeated in each question. It is January 1, 2017 and Pegasus is contemplating the acquisition of competitor Chimera. The following details are available ($ in millions except per share data): January 1, 2017 ($ in millions) Pegasus Chimera GAAP revenue $150.40 $112.00 GAAP net income $14.04 $9.92 Tax rate 40% 35% What is 2017 pro forma (combined) GAAP pre-tax income? O 9.09 O 21.66 O 36.86 O 38.66 O 39.93

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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