Refer to the income statement above. Luther's earnings before interest, taxes, depreciation, and amortization (EBITDA) for the year ending December 31, 2005 is closest to ________
Luther Corporation
Consolidated Income Statement
Year ended December 31 (in $millions)
2006 2005
Total sales 610.1 553.6
Cost of sales -500.2 -357.1
Gross profit 109.9 196.5
Selling, general, and
administrative expenses -40.5 -38.8
Research and development -24.6 -21.8
Depreciation and amortization -3.6 -3.4
Operating income 41.2 132.5
Other income -- --
Earnings before interest and taxes (EBIT) 41.2 132.5
Interest income (expense) -25.1 -15.9
Pretax income 16.1 116.6
Taxes -5.5 -40.81
Net income 10.6 75.79
Price per share $16 $15
Sharing outstanding (millions) 10.2 8.0
Stock options outstanding (millions) 0.3 0.2
Stockholders' Equity 126.6 63.6
Total Liabilities and Stockholders' Equity 533.1 386.7
A) $271.8 million
B) $108.7 million
C) $163.1 million
D) $135.9 million
Answer: D
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