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2. (12 points) The following is the income statement for Mattel Inc. ($ thousands) MATTEL INC. AND SUBSIDIARIES Consolidated Statement of Income For the year ended December 31, 2016 (in thousands) Net Sales $5,456,650 Cost of sales 2,902,259 Gross Profit 2,554,391 Advertising and promotion expenses 634,947 Other selling and administrative expenses 1,400,211 Operating Income 519,233 Interest expense 95,118 Interest (income) (9,144) Other non-operating (income), net 23,517 Income Before Income Taxes 409,742 Provision for income taxes 91,720 Net Income $ 318,022 Required: a. Assume that the company’s statutory tax rate is 37%. Compute the tax shield for 2016 and the tax rate on operating profit. b. What is the company’s net operating profit after tax (NOPAT) for 2016? c. Determine the net operating profit margin for the year.
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2. (12 points) The following is the income statement for Mattel Inc. ($ thousands) MATTEL INC. AND S...
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