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Prepare a horizontal Income Statement based on the given statement of operations for the two most recent years (2018 & 2017). Consolidated Statements of Operations
Prepare a horizontal Income Statement based on the given statement of operations for the two most recent years (2018 & 2017).
Consolidated Statements of Operations 991 2017 2016 (millions, except per share data) 2018 As Adjusted As Adjusted Sales 74,433 $ 71,786 $ 69.414 Other revenue 923 928 857 Total revenue 75,356 72,714 70,271 Cost of sales 53,299 51,125 49,145 Selling, general and administrative expenses 15,723 15,140 14,217 Depreciation and amortization (exclusive of depreciation included in cost of sales) 2,224 2,225 2,045 Operating income 4,110 4,224 4,864 Net interest expense 461653 Net other (income) / expense (27) (59) (88) Earnings from continuing operations before income taxes 3,676 3,630 3,961 Provision for income taxes 746 722 1,295 Net earnings from continuing operations 2,930 2,908 2,666 Discontinued operations, net of tax 7 6 68 Net earnings $ 2,937 $ 2,914 $ 2,734 Basic earnings per share Continuing operations $ 5.54 $ 5.32 $ 4.61 Discontinued operations 0.01 0.01 0.12 Net earnings per share $ 5.55 $ 5.32 $ 4.73 Diluted earnings per share Continuing operations $ 5.50 $ 5.29 $ 4.58 Discontinued operations 0.01 0.01 0.12 Net earnings per share $ 5.51 $ 5.29 $ 4.69 Weighted average common shares outstanding Basic 528.6 546.8 577.6 Diluted 533.2 550.3 582.5 Antidilutive shares - 4.1 0.1 Note: Per share amounts may not foot due to rounding. See accompanying Notes to Consolidated Financial Statements. (@ Refer to Note 2 regarding the adoption of new accounting standards for revenue recognition, leases, and pensions
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