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Required information [The following information applies to the questions displayed belowj Shown below are selected...

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Accounting

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Required information [The following information applies to the questions displayed belowj Shown below are selected data from the financial statements of Supreme Co. Dollar amounts are in millions (except for the per share data) Income statement data: Net sales Cost of goods sold Operating expenses Net income $1,170 $ 505 $ 425 $ 360 Balance sheet data: Average total equity Average total assets $2,100 $3,700 Supreme reported earnings per share for the year of $5 and paid cash dividends of $2 per share. At year-end, the Wall Street Journal listed Supreme's capital stock as trading at $85 per share What was Supreme's operating income (in millions)

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