Francisco Olivas of Olivas Medical Supply Company was

reading the financial statements of Alvear...

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 Statem
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supply-company-was-reading-the-financial-statements-of-alvear

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?

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supply-company-was-reading-the-financial-statements-of-alvear

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