Question
I need help in studying and solving this number with explaination. Consider the following financial information: (in millions of U.S. Dollars) 1990 1991 1992 1993
I need help in studying and solving this number with explaination.
Consider the following financial information: (in millions of U.S. Dollars) 1990 1991 1992 1993 1994 Net Sales 77.00 97.00 132.00 140.30 148.80 Because these numbers are in millions of U.S. Dollars, these numbers are actually: 1990 1991 Net Sales $77 million $97 million ...and so forth If we were to write out $77 million, for example, we would add six zeroes: 1990 1991 Net Sales $77,000,000 RULES FOR REPORTING FINANCIAL INFORMATION: (1) We add the U.S. Dollar sign (or appropriate currency) to indicate the currency (2) We report the number like it would sound if we were speaking the number. EXAMPLES: Net Sales (in millions of U.S. Dollars) = 77.00 Report as: $77.00 million Net Income (in thousands of U.S. Dollars) = 138,470.00 Report as: $138.47 million Industry Revenues (in millions of U.S. Dollars) = 1,395.00 Report as: $1.40 billion
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