Mandalay Resorts had revenue of $2,462, income from continuing operation of $53, provision for income tax of $40, interest expense of $230, & depreciation & amortization of $216 (all in millions). Mandalay had EBIT (in millions) of: a. $539 b. $323 c. -$217 d. $1,923

The correct answer is D

Explanation:

The formula to compute the EBIT (Earnings before Interest and Tax) is as:

EBIT (Earnings before Interest and Tax) = Revenue - Provision for income tax - amortization and depreciation - Interest expense - income from continuing operation

where

Revenue is $2,462

Depreciation and amortization is $216

Provision for income tax is $40

Income from continuing operation is $53

Interest expense is $230

Putting the values above:

EBIT = $2,462 - $216 - $230 - $53 - $40

EBIT = $1,923

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two years ago, when picking flowers in the mountains back of yosemite valley, i found a book. it was blotted and storm-beaten; all of its outer pages were mealy and crumbly. the paper seemed to dissolve like the snow beneath which it had been buried, however; many of the inner pages were well preserved. and although all were more or less stained and torn, whole chapters were easily readable. this is the condition of the great open book of yosemite glaciers today; its granite pages have been torn and blurred by the same storms that wasted the castaway book.

two years ago, when picking flowers in the mountains back of yosemite valley; i found a book. it was blotted and storm-beaten, all of its outer pages were mealy and crumbly. the paper seemed to dissolve like the snow beneath which it had been buried, however, many of the inner pages were well preserved. and although all were more or less stained and torn; whole chapters were easily readable. this is the condition of the great open book of yosemite glaciers today, its granite pages have been torn and blurred by the same storms that wasted the castaway book.