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Please help 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
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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 2022 income statement and balance sheet. (All dollars are in millions.) $5,000 $5,000 7,220 760 3,280 Retained earnings Cost of goods sold Selling and administrative expenses Cash Notes payable Interest expense Bonds payable Inventory Sales revenue Accounts payable Common stock 12,700 1,090 300 50 100 250 Income tax expense 585 Prepare an income statement for Kellogg Company for the year ended December 31, 2022. (Enter amounts in millions, e.g. 45.) KELLOGG COMPANY Income Statement For the Year Ended December 31, 2022 (in millions) Revenues Sales Revenue 12,700 Expenses Cost of Goods Sold $ 7220 Selling and Administrative Expenses 3280 i Interest Expense 250 i Income Tax Expense 585 i Total Expenses 11,335 i Net Income /(Loss) $ 1365Step by Step Solution
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