Kellogg Company is the world's leading producer of ready-to-eat o ading producer of grain-based convenience foods such as frozen waffles and ppose the following items were taken from its 2014 income statement a et. (All dollars are in millions.) Retained earnings Cost of goods sold Selling and administrative expenses Cash Notes payable $5.481 7,184 Bonds payable Inventory Sales revenue 3,390 334 Accounts payable Common stock Income tax expense 44 Interest 205
Kellogg Company is the world's leading producer of ready-to-eat o ading producer of grain-based convenience foods such as frozen waffles and ppose the following items were taken from its 2014 income statement a et. (All dollars are in millions.) Retained earnings Cost of goods sold Selling and administrative expenses Cash Notes payable $5.481 7,184 Bonds payable Inventory Sales revenue 3,390 334 Accounts payable Common stock Income tax expense 44 Interest 205
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
![INCOME SEA Tement
El-11 Kellogg Company is the world's leading producer of ready-to-eat cereal and a
leading producer of grain-based convenience foods such as frozen waffles and cereal bars.
Suppose the following items were taken from its 2014 income statement and bed
seet. (All dollars are in millions.)
Retained earnings
Cost of goods sold
Selling and
administrative expenses
Cash
Bonds payable
Inventory
Sales revenue
Accounts payable
Common stock
Income tax expense
$5,481
7,184
$ 4,835
910
12,575
1,077
105
3,390
334
Notes payable
Interest expense
44
498
295](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Feee1c338-8925-4b4e-aef9-124544a4223b%2F1fd50554-143f-44b9-bffa-5571a451e536%2F6p5kojp_processed.jpeg&w=3840&q=75)
Transcribed Image Text:INCOME SEA Tement
El-11 Kellogg Company is the world's leading producer of ready-to-eat cereal and a
leading producer of grain-based convenience foods such as frozen waffles and cereal bars.
Suppose the following items were taken from its 2014 income statement and bed
seet. (All dollars are in millions.)
Retained earnings
Cost of goods sold
Selling and
administrative expenses
Cash
Bonds payable
Inventory
Sales revenue
Accounts payable
Common stock
Income tax expense
$5,481
7,184
$ 4,835
910
12,575
1,077
105
3,390
334
Notes payable
Interest expense
44
498
295
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