Selling Expenses Administrative Expenses $ 95,000 150,000 Common Stock, $11 Par Value, 13,500 shares authorized and issued Preferred Stock, $2 No-Par Value, 2,000 shares issued Income Tax Expense: Continuing $ 148,500 Income from Discontinued Operations 2,400 60,000 Cost of Goods Sold Treasury Stock-Common (1,500 shares) Net Sales Revenue 470,000 19,500 50,000 Operations Income Tax Expense: Income from Discontinued Operations 801,400 960

Selling Expenses Administrative Expenses $ 95,000 150,000 Common Stock, $11 Par Value, 13,500 shares authorized and issued Preferred Stock, $2 No-Par Value, 2,000 shares issued Income Tax Expense: Continuing $ 148,500 Income from Discontinued Operations 2,400 60,000 Cost of Goods Sold Treasury Stock-Common (1,500 shares) Net Sales Revenue 470,000 19,500 50,000 Operations Income Tax Expense: Income from Discontinued Operations 801,400 960

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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The following information is from General Electric Corporation's annual reports. General Electric Year 2015 Revenue ($ Billion) Employees (thousands) 2016 $ 94.79 103.60 334 296 2017 2018 2019 2020 99.78 97.51 95.51 79.92 314 284 206 175 Click here for the Excel Data File Compute a simple index for the revenue of GE using the period 2015 to 2016 as the base. Note: Round your answers to 2 decimal places. The index (2015 to 2016=100) for selected years is: Year Simple Index 2015 2016 2017 2018 2019 2020 What can you conclude about the change in revenue over the period? Note: Round your answer to 2 decimal places. Compared to the average of 2015 and 2016, revenue is % lower.
Please solve the question sub-division b alone.
Forecast an Income Statement Following is the income statement for Medtronic PLC. Consolidated Statement of Income ($ millions) For Fiscal Year Ended April 26, 2019 Net sales $27,807 Costs and expenses Cost of products sold 8,331 Research and development expense 2,330 Selling, general, and administrative expense 9,480 Amortization of intangible assets 1,605 Restructuring charges, net 198 Certain litigation charges, net 166 Other operating expense, net 258 Operating profit 5,439 Other nonoperating income, net (373) Interest expense 1,314 Income before income taxes 4,498 Income tax provision 547 Net income 3,951 Net income loss attributable to noncontrolling interests (19) Net income attributable to Medtronic $3,932 Use the following assumptions to prepare a forecast of the company’s income statement for FY2020. Note: Complete the entire question in Excel using the following template: Excel Template. Format each answer to two decimal…
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