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Sales HAWKEYE COMPANY Income Statement For the Year Ended December 31, 2021 ($ in millions) Cost of goods sold Gross margin Operating expenses: Salaries
Sales HAWKEYE COMPANY Income Statement For the Year Ended December 31, 2021 ($ in millions) Cost of goods sold Gross margin Operating expenses: Salaries Depreciation Loss on sale of land Total operating expenses Operating income Other income (expense): Gain on sale of cash equivalents Interest expense Income before tax Income tax expense Net income $ 820 310 510 $ 224 182 12 418 HAWKEYE COMPANY Selected Accounts from Comparative Balance Sheets December 31, 2021 and 2020 ($ in millions) 92 4 (32) 64 32 $ 32 Year 2021 2020 Change Cash $248 $218 $ 30 Accounts receivable 387 405 (18) Inventory 896 868 28 Accounts payable 228 270 (42) Salaries payable 188 204 (16) Interest payable 71 58 13 Income tax payable 98 120 (22)
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