Question
Portions of the financial statements for Myriad Products are pro MYRIAD PRODUCTS COMPANY Income Statement For the Year Ended December 31, 2021 ($ in
Portions of the financial statements for Myriad Products are pro MYRIAD PRODUCTS COMPANY Income Statement For the Year Ended December 31, 2021 ($ in millions) Sales Cost of goods sold Gross margin Salaries expense Depreciation expense Amortization expense Interest expense Loss on sale of land Income before taxes Income tax expense Net Income $ 840 294 546 $135 92 5 32 4. 268 278 139 $ 139 MYRIAD PRODUCTS COMPANY Selected Accounts from Comparative Balance Sheets December 31, 2021 and 2020 ($ in millions) Year 2021 2020 Change Cash $129 $124 $ 5 Accounts receivable 255 268 (13) Inventory 462 474 (12) Accounts payable 188 182 6 Salaries payable 104 110 (6) Interest payable 48 44 4 Income tax payable 39 34 5
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