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Develop a detailed Income Statement for Ford Motor Company for the fiscal year ending December 31, 2023, based on the following data: Sales Revenue: $150,000,000

Develop a detailed Income Statement for Ford Motor Company for the fiscal year ending December 31, 2023, based on the following data:

  • Sales Revenue: $150,000,000
  • Cost of Goods Sold: $80,000,000
  • Operating Expenses:
    • Salaries and Wages: $20,000,000
    • Rent Expense: $5,000,000
    • Utilities Expense: $3,000,000
  • Depreciation Expense: $15,000,000
  • Interest Expense: $10,000,000
  • Tax Rate: 30%

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