question archive Financial statements of Supreme Co

Financial statements of Supreme Co

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Financial statements of Supreme Co. Dollar amounts are in millions (except for the per share data).

Income statement data:   

Net sales=$1,230 

Cost of goods sold=$520 

Operating expenses$440 

Net income=$390 


Balance sheet data:   

Average total equity=$2,400 

Average total assets=$4,000 


Supreme reported earnings per share for the year of $4 and paid cash dividends of $1 per share. At year-end, the Wall Street Journal listed Supreme's capital stock as trading at $88 per share.


What was Supreme's operating income (in millions)?


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