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The following information, based on the 12/31/2021 Annual Report to Shareholders of Krafty Foods ($ in millions): 3,097 4,331 5,305 282 18,731 2,852 660 11,511
The following information, based on the 12/31/2021 Annual Report to Shareholders of Krafty Foods ($ in millions): 3,097 4,331 5,305 282 18,731 2,852 660 11,511 3,591 Accounts payable Accounts receivable (net) Accrued liabilities Cash and cash equivalents Cost of goods sold Other current payables Current portion of long-term debt Other long-term liabilities Retained earnings as of 12/31/2021 Goodwill and other intangible assets (net) Salaries expense Interest and other debt expense, net Inventories Long-term debt Long-term notes payable Marketing, general and administration expenses Operating revenues Other current assets Other noncurrent assets Other shareholders' equity Common stock Property, plant and equipment (net) Short-term borrowings 39,557 2,765 2,637 4,226 9,334 6,200 12,660 39,875 807 4,926 (3,768) 24,855 10,309 801 Required: Based on the information presented above, prepare the Income Statement for Krafty Foods for the year ended December 31, 2021. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) $ KRAFTY FOODS Income Statement For the Year Ended December 31, 2021 ($ in millions) Operating revenues Cost of goods sold Gross profit Marketing, general and administration expenses Salaries expense Operating revenues Total non-operating expenses Interest and other debt expense, net $ 39,875 18,731 21.144 12,660 2.765 39,875 (34,156) $ Net income $ $ (34 156)
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