Reference no: EM132325568
Question
Revenue from sales $ 3,500,000
Cost of products sold (1,700,000)
Gross profit 1,800,000
Operating expenses:
Selling expenses $ 425,000
General expenses 350,000
(775,000)
Operating income 1,025,000
Other income 20,000
Interest (70,000)
Operating income before income taxes 975,000
Taxes related to operations (335,000)
Income from operations 640,000
Extraordinary loss (less applicable income taxes of $40,000) (80,000)
Income before noncontrolling interest 560,000
Noncontrolling interest (loss) (50,000)
Net income $ 510,000
What is the calculated degree of financial leverage?
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