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Exhibit 7.16 HealthCo: Income Statement and Balance Sheet
$ million
Prior Current Prior Current
Income statement year year Balance sheet year year
Revenues 605 665 Working cash 5 5
Cost of sales (200) (210) Accounts receivable 45 55
Selling costs (300) (320) Inventories 15 20
Depreciation (40) (45) Current assets 65 80
Operating income 65 90
Property, plant & equipment 250 260
Interest expense (5) (15) Prepaid pension assets 10 50
Gain on sale 0 25 Total assets 325 390
Earnings before taxes 60 100
Accounts payable 10 15
Taxes (16) (40) Short-term debt 20 40
Net income 44 60 Restructuring reserves 20 0
Current liabilities 50 55
Long-term debt 70 70
Equity 205 265
Liabilities and equity 325 390
Exhibit Data:
Statutory (marginal) tax rate 35.0% 35.0%
Operating tax rate 29.4% 29.4%
Effective tax rate 40.0% 40.0%
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Balance sheet 0 0
