Question
Prepare the 2021 common-size Income Statement given: U.S. Corporation 2021 Income Statement (in $millions) Net Sales: $1,509 Cost of goods sold: 750 Depreciation: 65 ________
Prepare the 2021 common-size Income Statement given:
U.S. Corporation 2021 Income Statement (in $millions)
Net Sales: $1,509
Cost of goods sold: 750
Depreciation: 65
________
Earnings before interest and taxes: $694
Interest paid: 70
__________
Taxable Income: $624
Taxes (21%) 131
_________
Net income $493
Dividends $123
Additions to retained earnings 370
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Intermediate Accounting
Authors: James D. Stice, Earl K. Stice, Fred Skousen
16th Edition
324376375, 0324375743I, 978-0324376371, 9780324375749, 978-0324312140
