Identifying Operating Income Componehts Following is the income statement information from Apollo Medical Devices. Identify the components that we would consider operating. 2013 ($ in thousands) $4,163,770 1,382,235 27,876 Net sales........ Cost of sales before special charges. Special inventory obsolescence charge.. 1,410,111 Total cost of sales.. 2,753,659 1,570,667 531,086 Gross profit..... Selling, general and administrative expense Research and development expense.. Merger and acquisition costs..... In-process research and development charges. Litigation settlement. 46,914 12,244 16,500 576,248 (57,372) 2,076 Operating profit Interest expense. Interest income.. Gain on disposal of fixed assets Impairment of marketable securities Other income (expense), net. 4,929 (5,222) (2,857) Earnings before income taxes. Income tax expense. 517,802 191,587 Net earnings.... $ 326,215

Identifying Operating Income Componehts Following is the income statement information from Apollo Medical Devices. Identify the components that we would consider operating. 2013 ($ in thousands) $4,163,770 1,382,235 27,876 Net sales........ Cost of sales before special charges. Special inventory obsolescence charge.. 1,410,111 Total cost of sales.. 2,753,659 1,570,667 531,086 Gross profit..... Selling, general and administrative expense Research and development expense.. Merger and acquisition costs..... In-process research and development charges. Litigation settlement. 46,914 12,244 16,500 576,248 (57,372) 2,076 Operating profit Interest expense. Interest income.. Gain on disposal of fixed assets Impairment of marketable securities Other income (expense), net. 4,929 (5,222) (2,857) Earnings before income taxes. Income tax expense. 517,802 191,587 Net earnings.... $ 326,215

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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