Part IV. Financial Statement and Ratio Analysis The income statement and balance sheet are the primary reports that a firm constructs for use by management and for distribution to stockholders, regulatory bodies, and the general public. They are the primary sources of historical financial information about the firm. Dayton Products Inc. is a moderate-sized manufacturer. The company's man- agement has asked you to perform a detailed financial statement analysis of the firm. The income statements for the years ending December 31, 2019 and 2018, respectively, are presented in the following table. Annual Income Statements (Values in Millions) For the year ended December 31, 2019 December 31, 2018 Sales $178,909 $187,510 Cost of goods sold 109,701 111,631 Selling, general, and administrative expenses 12,356 12,900 Other tax expense 33,572 33,377 Depreciation and amortization 12,103 7,944 Other income (add to EBIT to arrive at EBT) 3.147 3,323 Interest expense 293 Income tax rate 21% 21% Dividends paid per share $1.15 $0.91 Basic EPS from total operations $1.64 $2.87 398 Part IV. Financial Statement and Ratio Analysis The income statement and balance sheet are the primary reports that a firm constructs for use by management and for distribution to stockholders, regulatory bodies, and the general public. They are the primary sources of historical financial information about the firm. Dayton Products Inc. is a moderate-sized manufacturer. The company's man- agement has asked you to perform a detailed financial statement analysis of the firm. The income statements for the years ending December 31, 2019 and 2018, respectively, are presented in the following table. Annual Income Statements (Values in Millions) For the year ended December 31, 2019 December 31, 2018 Sales $178,909 $187,510 Cost of goods sold 109,701 111,631 Selling, general, and administrative expenses 12,356 12,900 Other tax expense 33,572 33,377 Depreciation and amortization 12,103 7,944 Other income (add to EBIT to arrive at EBT) 3.147 3,323 Interest expense 293 Income tax rate 21% 21% Dividends paid per share $1.15 $0.91 Basic EPS from total operations $1.64 $2.87 398