The following information ($ in millions) comes from a recent annual report of Orinoco.com, Incorporated: Net sales $ 10,898 Total assets 4,396 End of year balance in cash 1,176 Total stockholders' equity 470 Gross profit (Sales − Cost of Sales) 2,479 Net increase in cash for the year 21 Operating expenses 2,057 Net operating cash flow 616 Other income (expense), net (16) Compute the income before income tax for Orinoco.   Multiple Choice   $526   $406   $486   $326

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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The following information ($ in millions) comes from a recent annual report of Orinoco.com, Incorporated:

Net sales $ 10,898
Total assets 4,396
End of year balance in cash 1,176
Total stockholders' equity 470
Gross profit (Sales − Cost of Sales) 2,479
Net increase in cash for the year 21
Operating expenses 2,057
Net operating cash flow 616
Other income (expense), net (16)

Compute the income before income tax for Orinoco.

 

Multiple Choice
  •  

    $526

  •  

    $406

  •  

    $486

  •  

    $326

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