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Reformulating Financial Statements For Warranty Expense table [ [ 1 2 Months Ended ( $ millions ) , Dec. 3 1 , 2 0
Reformulating Financial Statements For Warranty Expense table Months Ended $ millionsDec. Dec. Dec. Net sales,$$$Warranty expense, Compute the average warranty expense to net sales rate over the past three years. Round answer to two decimal places ex: Using your rounded answer, compute the adjusted warranty expense for each year. Round answers to one decimal place. Use a negative sign to indicate if the adjustment decreases an account balance. tableIncome Statements Adjustments,Adjusted warranty expense,$$Adjustment required to warranty expense,,,,Income tax expense,,,,Net Income,,,, Income statement data for Whirlpool Industries from the company s financial statements follow. Use these data to reformulate the income statement for and under the assumption that warranty expense is a constant percentage of revenue across all three years. Specifically, compute the adjustments to: warranty expense, income tax expense, and net income. The company s tax rate is Months Ended $ millions Dec. Dec Dec Net sales $ $ $ Warranty expense Compute the average warranty expense to net sales rate over the past three years. Round answer to two decimal places ex: Answer Using your rounded answer, compute the adjusted warranty expense for each year. Round answers to one decimal place. Use a negative sign to indicate if the adjustment decreases an account balance. Adjusted warranty expense Adjustment required to warranty expense Income tax expense Net Income
Reformulating Financial Statements For Warranty Expense table Months Ended $ millionsDec. Dec. Dec. Net sales,$$$Warranty expense,
Compute the average warranty expense to net sales rate over the past three years.
Round answer to two decimal places ex:
Using your rounded answer, compute the adjusted warranty expense for each year.
Round answers to one decimal place.
Use a negative sign to indicate if the adjustment decreases an account balance.
tableIncome Statements Adjustments,Adjusted warranty expense,$$Adjustment required to warranty expense,,,,Income tax expense,,,,Net Income,,,,
Income statement data for Whirlpool Industries from the company
s
financial statements follow. Use these data to reformulate the income statement for
and
under the assumption that warranty expense is a constant percentage of revenue across all three years. Specifically, compute the adjustments to: warranty expense, income tax expense, and net income. The company
s tax rate is
Months Ended
$ millions
Dec.
Dec
Dec
Net sales $
$
$
Warranty expense
Compute the average warranty expense to net sales rate over the past three years.
Round answer to two decimal places
ex:
Answer
Using your rounded answer, compute the adjusted warranty expense for each year.
Round answers to one decimal place.
Use a negative sign to indicate if the adjustment decreases an account balance.
Adjusted warranty expense
Adjustment required to warranty expense
Income tax expense
Net Income
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