Libby_7e_MBA_Companion_Solutions

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Unformatted text preview: 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% 6.00% Present Value $209.43 $208.26 $191.43 $169.51 $148.70 $116.32 $109.73 $103.52 $97.66 $92.14 $1,922.00 S P-3 Computing effective tax rates Below is Columbia Sportswear’s 2009 Income Statement. What is Columbia’s effective tax rate? Page 10 of 21 $1,446.71 END-OF-CHAPTER MATERIAL COLUMBIA SPORTSWEAR COMPANY COLUMBIA SPORTSWEAR COMPANY NOTES TO CONSOLIDATED STATEMENTS OF OPERATIONS CONSOLIDATED FINANCIAL STATEMENTS—(Continued) (In thousands, except per share amounts) The components of the provision (benefit) for income taxes consist of the following (in thousands): Year Ended December 31, 2009 Year Ended December 31, 2008 2007 Net sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Cost of sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Current: 2009 $1,244,023 719,945 2008 $1,317,835 750,024 GrossFederal. .. . . . . ....
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