1234567 4 Sales Revenue 5 Cost of Goods Sold (60% of Sales) Gross Profit Income statements Fiscal year ended December 31 ($ in millions) 2021 2020 $2,150.00 $1,895.00 1,290.00 1,137.00 $860.00 $758.00 Selling, General, and Administrative, and 8 Other Operating Expenses $300.00 $250.00 9 Depreciation & Amortization 65.00 50.00 10 Other Expenses 10.00 6.00 11 Total Operating Expenses $375.00 $306.00 12 Earnings Before Interest & Taxes (EBIT) $485.00 $452.00 13 Interest Expense $100.00 $75.00 14 Earnings Before Taxes 385.00 377.00 15 Income Taxes (20%) 16 Net Profit After Taxes 17 Preferred Dividend $35.00 $28.00 18 Earnings Available to Common Stock Holders (EAC) 19 Common Stock Dividend (40% of EAC) 20 Retained Earnings 21 22 Number of Common Shares Outstanding (in millions) 100.00 85.00 23 Dividends Paid Per Share 24 Earnings Per Share (EPS) 25 26