Use the following information to complete the income statement using excel.

Income Statement Exercise: Prepare both consolidated income statement and common-size income statement for JACOB for years 2015 through 2018 based on the following scrambled information. Use the format provided on the following page. (All figures in millions except the tax rate) Year 2015 2016 2017 2018 $750 628 7,075 Common Dividends Interest Expenses Selling & Administrative Expenses Cost Of Goods Sold Other Operating Expenses Tax Rate Sales Common Shares Outstanding Depreciation 14,050 2,871 40% 31,000 1,000 170 $860 628 7,200 15,000 2,904 40% 33,000 1,000 184 $860 595 7,591 16,400 3,002 40% 36,000 1,000 193 $920 615 7,619 17,200 2,995 40% 39,000 1,200 195 Earnings per share (EPS) = Net Income/Common Shares Outstanding Dividends per share (DPS) = Common Dividends/Common Shares Outstanding Income Statement Spreadsheet Example ASSIGNMENT # NAME: LAB TIME: JACOB CORPORATION INCOME STATEMENT 2015-2018 2015 2016 2017 2018 Sales Cost Of Goods Sold Gross Profits formula formula formula formula Selling & Administrative Expenses Depreciation Other Operating Expenses Total Operating Expense formula formula formula formula formula formula formula Earnings Before Interest & Taxes (EBIT) or Operating Profits Interest Expense Earnings Before Taxes (EBT) Taxes @40% Net Income formula # formula formula formula formula formula formula formula formula formula formula formula formula Common Dividends Addition to Retained Earnings # formula # formula # formula formula Common Shares Outstanding Earnings Per Share (EPS) Dividends Per Share (DPS) formula formula formula formula # formula formula # formula formula