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An income statement consists of the following line items (in millions): Revenue 4,356 Cost of goods sold 3,487 Operating expenses 428 Interest income 56 Interest
An income statement consists of the following line items (in millions):
Revenue
4,356
Cost of goods sold
3,487
Operating expenses
428
Interest income
56
Interest expense
132
The firm pays no taxes. Prepare a reformulated income statement that distinguishes items involved in operations from those involved in financing activities.
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