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I want to complete the income statement table Exercise 1-11 Kellogg Company is the world's leading producer of ready-to-eat cereal and a leading producer of
I want to complete the income statement table
Exercise 1-11 Kellogg Company 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 2014 income statement and balance sheet. (All dollars are in millions.) (a) In each case identify whether the item is an asset, liability, stockholders' equity, revenue, or expense 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 $5,481 7,184 3,390 334 Stockholders' Equity Expense Expense Asset Liability Expense Liability Asset Revenue Liability Stockholders' Equity Expense 295 4,835 910 12,575 1,077 105 512Step by Step Solution
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