Calculating Gross Profit and Preparing an Income Statement

During the current year, Colgate$-$Palmolive Company reported sales revenue of $$15,454$ million and cost of goods sold of $$6,099$ million. Its net income was $$2,024$ million. Calculate gross profit and prepare an income statement using the format illustrated in Exhibit $1\mathrm{.}8($found in Chapter $1$ of the textbook on page $13).$

Do not use negative signs with any of your answers.

Colgate$-$Palmolive Company Income Statement

For the year ended December $31$