Question
Abbott laboratories reports the following income statement ( in partial form ) net sale [20,247] / cost of products sold [9,218] / amortization of intingable
Abbott laboratories reports the following income statement ( in partial form )
net sale [20,247] / cost of products sold [9,218] / amortization of intingable assets [555] / research and developement [1,345] / selling general and administrative [6,530]
total operating cost and expense [17,648] / operating earnings [2,599]
1) compute the percent of net sales that Abbott laboratories spend on research and development (R&D). How would you assess the appropriateness of its R&D expense level ?
2) Using the financial statement effects template, describes how the accounting for R&D expenseditures affects Abbott laboratories balance sheet and income statement.
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