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it says that this is incorrect, but I don't know how it is wrong. and then using this information what would the following be? any/all
it says that this is incorrect, but I don't know how it is wrong.
and then using this information what would the following be?
any/all help is greatly appreciated!
[The following information applies to the questions displayed below.) Wolverine World Wide, Inc., prides itself as being the world's leading marketer of U.S. branded non-athletic footwear. The following data (in millions) were reported for the third quarter of 2016: Net Sales Income Tax Expense Dividends Salaries and Wages Expense Cost of Goods Sold Interest Expense $1,696 39 21 537 1,047 21 1. Prepare a multistep income statement. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) WOLVERINE WORLD WIDE INC. Income Statement For the third quarter of 2016 (in millions) Net sales Revenue Cost of Goods Sold $ 1,696 1,047 Gross Profit 649 0 537 112 Other Operating Expenses Salaries and Wages Expense Income from Operations Dividends Interest Expense Income before Income Tax Expense Income Tax Expense 21 $ 21 70 39 Net Income $ 31 Required information [The following information applies to the questions displayed below.] Wolverine World Wide, Inc., prides itself as being the world's leading marketer of U.S. branded non-athletic footwear. The following data (in millions) were reported for the third quarter of 2016: Net Sales Income Tax Expense Dividends Salaries and Wages Expense Cost of Goods Sold Interest Expense $1,696 39 21 537 1,047 21 2-a. How much was the gross profit? (Enter your answer in millions.) 2-b. What was the gross profit percentage? (Round your percentage to 1 decimal place.) 2-a. million Gross Profit Gross Profit Percentage 2-b. %Step by Step Solution
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