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Calculator Calculating Economic Value Added East Mullett Manufacturing earned operating income last year as shown...

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Accounting

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Calculator Calculating Economic Value Added East Mullett Manufacturing earned operating income last year as shown in the following income statement: Sales $630,000 Cost of goods sold 380,000 Gross margin $250,000 174,400 Selling and administrative expense Operating income $ 75,600 30,240 Less: Income taxes (40%) Net income $ 45,360 Total capital employed equaled $400,000. East Mullett's actual cost of capital is 8 percent. Required: Calculate the EVA for East Mullett Manufacturing

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