Given the historical income statement of Mega Trade Inc., how much would be added to the company's retained earning for the year 2016 (in millions)? Income Statement ( $ Million) Year End 2015201620172019Sales 1, 234.901,251.701,300.401,334.40Cost of Sales -679.1-659-681.3-667Gross Operating Income Selling & Administration -339.7-348.6-351.2-373.3Depreciation -47.5-52-55.9-75.2Other Income / Expenses 11.87.678.2Earnings Before Interest and Taxes Interest Income 1.31.41.72Interest Expense -16.2-15.1-20.5-23.7Pre Tax Income Income Taxes -56.8-64.2-67.5-72.6Net Income Dividends -38.3-38.7-39.8-40.1

Net profits: Net profits are the amounts analyzed from the statement of profit or loss drafted at…

Answered: Given the historical income statement…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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Given the historical income statement of Mega Trade Inc., how much would be added to the company's retained earning for the year 2016 (in millions)?

Income Statement ( $ Million)
	Year End

	2015	2016	2017	2019
Sales	1, 234.90	1,251.70	1,300.40	1,334.40
Cost of Sales	-679.1	-659	-681.3	-667
Gross Operating Income

Selling & Administration	-339.7	-348.6	-351.2	-373.3
Depreciation	-47.5	-52	-55.9	-75.2
Other Income / Expenses	11.8	7.6	7	8.2
Earnings Before Interest and Taxes

Interest Income	1.3	1.4	1.7	2
Interest Expense	-16.2	-15.1	-20.5	-23.7
Pre Tax Income
Income Taxes	-56.8	-64.2	-67.5	-72.6
Net Income
Dividends	-38.3	-38.7	-39.8	-40.1

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