Assessing Research and Development Expenses Abbott Laboratories reports the following income statement, in partial form ($ millions): Year ended December 31 2018 Net sales $30,578 Cost of products sold 12,706 Amortization of intangible assets 2,178 Research and development 2,300 Selling, general and administrative 9,744 Total operating cost and expenses 26,928 Operating earnings $3,650 * including acquired in-process and collaborations R&D. Using the financial statement effects template, describe how the accounting for R&D expenditures affects Abbott Laboratories' balance sheet and income statement. Enter answers in millions, as shown above. Use negative signs with answers, when appropriate. Transaction Cash Asset + Noncash Assets - Contra Assets = Liabilities + Contr. Capital + Earned Capital Revenue - Expenses = Net income R & D expenditures