Question
Please solve this problem CA4-2 (Income Reporting Deficiencies) The following represents a recent income statement for Boeing Company. ($ in millions) Sales $21,924 Costs and
Please solve this problem
CA4-2 (Income Reporting Deficiencies) The following represents a recent income statement for Boeing Company. ($ in millions)
Sales $21,924 Costs and expenses 20,773 Income from operations 1,151 Other income 122
Interest expense (130) Earnings before income taxes 1,143 Income taxes (287) Net income $ 856
It includes only five separate numbers (two of which are in billions of dollars), two subtotals, and the net earnings figure.
Instructions :(a) Indicate the deficiencies in the income statement. (b) What recommendations would you make to Boeing to improve the usefulness of its income statement?
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