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I can't seem to get the numbers right... i feel like i have the right calculations but cant put it in right! Question 4 0.79/1
I can't seem to get the numbers right... i feel like i have the right calculations but cant put it in right!
Question 4 0.79/1 Coronado Industries is the world's leading producer of ready-to-eat cereal and a leading producer of grain-based convenience foods such as frozen waffles and cereal bars. Suppose the following items were taken from its 2017 income statement and balance sheet. (All dollars are in millions.) Retained earnings Cost of goods sold Selling and administrative expenses Cash Notes payable Interest expense Bonds payable Inventory Sales revenue Accounts payable Common stock Income tax expense $4,100 7,090 3,130 390 60 380 4,000 730 12,900 1,000 120 570 Prepare an income statement for Coronado Industries for the year ended December 31,2017. (Enter amounts in millions, eg. 45.) Coronado Industries Income Statement For the Year Ended December 31,2017 (in millions) Revenues Sales Revenue 12.900,000 Expenses Cost of Goods Sold 7,090,000 Selling and Administrative Expenses 3,130,000 Income Tax Expense 570,000 Interest Expense 380,000 Total Expenses 11,170,000 Net Income/(Loss) 1,730,000Step by Step Solution
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