Multiple-Step Income Statement (Alternates are 4-36 and 4-40.)Intel Corporation is one of the largest companies in the

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Multiple-Step Income Statement (Alternates are 4-36 and 4-40.)Intel Corporation is one of the largest companies in the United States. Its annual report for the year ended December 27, 2003 contained the following data and actual terms ($ in millions): Cost of sales $13,047 Gross margin $17,094 Research & development 4,360 Interest and other income (192) Marketing, general and Provision for taxes 1,801 administrative 4,278 Purchased in-process R&D 5 Impairment of goodwill 617 Losses on equity securities, Amortization and impairment net 283 of intangibles 301 Sales ? Prepare a multiple-step statement of income. Include the correct amount for Sales.

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Introduction To Financial Accounting

ISBN: 0131479725

9th Edition

Authors: Charles T Horngren, John A Elliott

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