Empresas Olmedo needs you to prepare correctly your Statement of Income and Expenses in multiple steps format.

Classified Statement: Empresas Olmedo Statement of Financial position At February 28, 2022 (Amounts are in millions) Assets Current assets: Cash and equivalents 3,808 Short-term investmetns 2,371 Accounts receivable 3,667 Inventories Prepaid expenses 1,150 Total current assets 16,051 Long-term investments 2,000 Property, plant and equipment (net) 3,989 Intangible assets 1,209 Total assets 23,249 Liabilities and stockholders' equity Current liabilities: Accounts payable 2,048 Short-term note payable 325 Income taxes paayble 84 Accrued liabilities 3,011 Current portion of long-term debt 6 Total current liabilities 5,474 Long-term liabilities: Bonds payable 3,471 Long-term note payable 1,907 Total liabilities 5,378 Stockholders' equity: Paid-in capital: Common stock 3 Additional paid-in capital 8,638 Total paid in capital 8,641 Retained earnings 3,979 Less: Accumulated other comprehensive loss -223 Total stockholders' equity 12,397 Total liabilities and stockholders' equity 23,249 Balance $ 20,853 9,024 6,772 Cuenta Net sales Cost of goods sold Selling and administrative expenses Other income Other expenses Income taxes on continuing operations Income from discontinued operations Income taxes on discontinued operations 1,776 1,972 350 500 163