Assume that the following accounts are taken from the December 31, 2017, financial statements of Rogers Communications

Question:

Assume that the following accounts are taken from the December 31, 2017, financial statements of Rogers Communications Inc. (Amounts are in millions.) 

Subscription Revenue $24,904 Other Revenues 12,779 Salaries Expense 9,653 Cash 1,516 Accounts Receivable 7,296 Interest Expense 2,299 Accounts Payable 1,470 Advertising Revenue Long-Term Debt Other Expenses 8,799 37,004 381 Deferred Revenue 1,178 Equipment 18,048 Income Tax Expense 2,336 Operating Expense 27,426


Required: 

Prepare an income statement for the year ended December 31, 2017.

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...
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Fundamentals of Financial Accounting

ISBN: 978-1259269868

5th Canadian edition

Authors: Fred Phillips, Robert Libby, Patricia Libby, Brandy Mackintosh

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