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E1-7 (Algo) Preparing an Income Statement and Inferring Missing Values LO1-1 Bigco Corp. is one of the nation's leading distributors of food and related products to restaurants, universities, hotels, and other customers. A simplified version of its recent income statement contained the following items (in millions). Cost of sales $11,681 Income taxes 349 Interest expense 22 Net earnings 1,093 16,310 1,442 Sales Earnings before income taxes Selling, general, and administration expense 3,593 Other revenues 428 Total expenses 15,296 16,738 Total revenues

E1-7 (Algo) Preparing an Income Statement and Inferring Missing Values LO1-1 Bigco Corp. is one of the nation's leading distributors of food and related products to restaurants, universities, hotels, and other customers. A simplified version of its recent income statement contained the following items (in millions). Cost of sales $11,681 Income taxes 349 Interest expense 22 Net earnings 1,093 16,310 1,442 Sales Earnings before income taxes Selling, general, and administration expense 3,593 Other revenues 428 Total expenses 15,296 16,738 Total revenues

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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E1-7 (Algo) Preparing an Income Statement and Inferring Missing Values LO1-1 Bigco Corp. is one of the nation's leading distributors of food and related products to restaurants, universities, hotels, and other customers. A simplified version of its recent income statement contained the following items (in millions). Cost of sales $11,681 Income taxes 349 Interest expense 22 Net earnings 1,093 16,310 1,442 Sales Earnings before income taxes Selling, general, and administration expense 3,593 Other revenues 428 Total expenses 15,296 16,738 Total revenues
Transcribed Image Text:E1-7 (Algo) Preparing an Income Statement and Inferring Missing Values LO1-1 Bigco Corp. is one of the nation's leading distributors of food and related products to restaurants, universities, hotels, and other customers. A simplified version of its recent income statement contained the following items (in millions). Cost of sales $11,681 Income taxes 349 Interest expense 22 Net earnings 1,093 16,310 1,442 Sales Earnings before income taxes Selling, general, and administration expense 3,593 Other revenues 428 Total expenses 15,296 16,738 Total revenues
Prepare an income statement for the year ended June 30, current year. (Enter your answers in millions.) BIGCO CORP. Income Statement (in millions) Revenues: Total revenues Expenses: Tot expenses Earnings before income taxes Net earnings
Transcribed Image Text:Prepare an income statement for the year ended June 30, current year. (Enter your answers in millions.) BIGCO CORP. Income Statement (in millions) Revenues: Total revenues Expenses: Tot expenses Earnings before income taxes Net earnings
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