K The Miami Medical Corporation financial statements follow: (Click the icon to view the consolidated balance sheets.) consolidated income statements.) Miami Medical's inventory turnover during fiscal year 2021 was (Click the icon to view the Assets: Current assets Cash and cash equivalents Short-term investments Accounts and notes receivable Inventories, at cost 69 4,334 $ 830 4,227 501 3,406 2,404 442 402 Prepaid expense and other current assets 1,654 1,223 Total current assets 10,666 8,757 Property and equipment, net 1,505 933 Investments 6,810 5,324 310 188 Other non-current assets n ion Other non-current assets Total assets Liabilities and stockholder's equity: Current liabilities Accounts payable Accrued and other liabilities tion 69 5 19,291 S 15,202 7,700 S 6,002 3,787 3,022 3,787 3,022 Accrued and other liabilities Total current liabilities 11,487 9,024 Long-term debt 301 302 1,702 1,167 Other non-current liabilities Total liabilities 13,490 10,493 Stockholders' equity Stocknolders equity Preferred stock and capital in excess of $0.02 par value; shares issued and outstanding: none Common stock and capital in excess of $0.05 par value; shares authorized: 6,000; shares issued: 1,851 and 1,581, respectively Treasury stock, at cost; 181 and 111 shares, respectively Retained earnings 7,804 7,010 (6,211) (4,402) 4,339 2,192 4,339 2,192 Retained earnings Other comprehensive loss Other (99) (49) (32) (42) 5,801 4,709 Total stockholders' equity 19,291 $ 15,202 Total liabilities and stockholders' equity Consolidated Statements of income Year ended December 31, (In Millions, Except per Share Amounts) 2021 2020 2019 Net revenue $ 42,543 $ 35,522 $ 31,125 35,120 29,270 25,477 Cost of goods sold 7,423 6,252 5,648 Gross profit Operating expenses: Selling, general, and administrative 3,746 3,150 2,990 Research, development, and engineering 592 557 555 502 Special charges 4,338 3,707 4,047 Total operating expenses 4,338 3,707 4,047 Total operating expenses Operating income 3,085 2,545 1,601 175 193 Investment and other income (loss), net (38) Income before income taxes 3,260 2,738 1,563 Income tax expense 1,030 930 477 2 230 S 1.808 $ 1.086 175 193 (38) Investment and other income (loss), net Income before income taxes 3,260 2,738 1,563 1,030 930 477 Income tax expense $ 2,230 $ 1,808 S 1,086 Net income Earnings per common share: Basic 69 1.42 $ 0.99 $ 0.31