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B C D 22 23 Income Statements: Sales 24 Operating costs excluding depreciation 25 Depreciation and amortization 26 Earnings before interest and taxes Less interest

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B C D 22 23 Income Statements: Sales 24 Operating costs excluding depreciation 25 Depreciation and amortization 26 Earnings before interest and taxes Less interest 28 Pre-tax income Taxes Net income available to common stockholders Common dividends 2018 $6,000.0 4,950.0 126.5 $923.5 129.0 $794.5 317.8 $476.7 $429.0 2017 $5,000.0 4.250.0 110.0 $640.0 107.5 $532.5 213.0 $319.5 $255.6 27 2018 2017 36 37 38 $78.0 30.0 600.0 1,062.5 $1,770.5 1,265.0 $3,035.5 $65.0 25.0 500.0 850.0 $1,440.0 1,100.0 $2,540.0 40 Balance Sheets: Assets 35 Cash Short-term investments Accounts receivable Inventories Total current assets Net plant and equipment 41 Total assets 42 43 Liabilities and Equity 44 Accounts payable 45 Accruals 46 Notes payable 47 Total current liabilities 48 Long-term debt 49 Total liabilities Common stock 51 Retained earnings Total common equity $385.0 312.5 120.0 $817.5 1,200.0 $2,017.5 874.5 143.5 $1,018.0 $350.0 250.0 100.0 $700.0 1,000.0 $1,700.0 744.2 95.9 $840.0 B C D 22 23 Income Statements: Sales 24 Operating costs excluding depreciation 25 Depreciation and amortization 26 Earnings before interest and taxes Less interest 28 Pre-tax income Taxes Net income available to common stockholders Common dividends 2018 $6,000.0 4,950.0 126.5 $923.5 129.0 $794.5 317.8 $476.7 $429.0 2017 $5,000.0 4.250.0 110.0 $640.0 107.5 $532.5 213.0 $319.5 $255.6 27 2018 2017 36 37 38 $78.0 30.0 600.0 1,062.5 $1,770.5 1,265.0 $3,035.5 $65.0 25.0 500.0 850.0 $1,440.0 1,100.0 $2,540.0 40 Balance Sheets: Assets 35 Cash Short-term investments Accounts receivable Inventories Total current assets Net plant and equipment 41 Total assets 42 43 Liabilities and Equity 44 Accounts payable 45 Accruals 46 Notes payable 47 Total current liabilities 48 Long-term debt 49 Total liabilities Common stock 51 Retained earnings Total common equity $385.0 312.5 120.0 $817.5 1,200.0 $2,017.5 874.5 143.5 $1,018.0 $350.0 250.0 100.0 $700.0 1,000.0 $1,700.0 744.2 95.9 $840.0

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