**Trixy Magic, Inc. - Consolidated Statements of Earnings Overview**Below is an analysis of Trixy Magic, Inc.'s income statement, presented in a table showing financial results for Fiscal Years 2018, 2017, and 2016. All figures are displayed in millions of dollars, along with their corresponding percentage of sales.**Net Sales**- Fiscal 2018: $48,232 (100.00% of sales)- Fiscal 2017: $48,290 (100.00% of sales)- Fiscal 2016: $46,938 (100.00% of sales)**Cost of Sales**- Fiscal 2018: $31,748 (65.83%)- Fiscal 2017: $31,567 (34.63%)- Fiscal 2016: $30,741 (34.51%)**Gross Margin**- Fiscal 2018: $16,484 (65.83%)- Fiscal 2017: $16,723 (65.37%)- Fiscal 2016: $16,197 (65.49%)**Expenses**1. Selling, General, and Administrative: - Fiscal 2018: $11,087 - Fiscal 2017: $10,525 - Fiscal 2016: $9,7502. Depreciation: - Fiscal 2018: $1,559 - Fiscal 2017: $1,368 - Fiscal 2016: $1,1733. Interest—Net: - Fiscal 2018: $284 - Fiscal 2017: $195 - Fiscal 2016: $159**Total Expenses**- Fiscal 2018: $12,930 (0.00%)- Fiscal 2017: $12,088 (2.83%)- Fiscal 2016: $11,082 (0.00%)**Earnings****Pre-tax Earnings**- Fiscal 2018: $3,554 (65.83%)- Fiscal 2017: $4,635 (62.54%)- Fiscal 2016: $5,115 (65.49%)**Income Tax Provision**- Fiscal 2018: $1,324- Fiscal 2017: $1,710- Fiscal 2016: $1,899**Net Earnings**

TRIXY MAGIC, INC. Consollidated Statements of Earnings (In millions) Fiscal Years Ended on Fiscal 2018 % Sales Fiscal 2017 % Sales Fiscal 2016 % Sales Net sales $ 48,232 100.00 % 2$ 48,290 100.00 % 2$ 46,938 100.00 % Cost of sales 31,748 34.17 31,567 34.63 30,741 34.51 Gross margin 16,484 65.83 16,723 65.37 16,197 65.49 Expenses: Selling, general, and administrative 11,087 10,525 9,750 1,559 1,368 1,173 Depreciation 284 195 159 Interest-net Total expenses 12,930 0.00 12,088 2.83 11,082 0.00 Pre-tax earnings 3,554 65.83 4,635 62.54 5,115 65.49 Income tax provision 1,324 1,710 1,899 65.83 % 2$ 2,925 62.54 % 3,216 65.49 % Net earnings 2$ 2,230

TRIXY MAGIC, INC. Consollidated Statements of Earnings (In millions) Fiscal Years Ended on Fiscal 2018 % Sales Fiscal 2017 % Sales Fiscal 2016 % Sales Net sales $ 48,232 100.00 % 2$ 48,290 100.00 % 2$ 46,938 100.00 % Cost of sales 31,748 34.17 31,567 34.63 30,741 34.51 Gross margin 16,484 65.83 16,723 65.37 16,197 65.49 Expenses: Selling, general, and administrative 11,087 10,525 9,750 1,559 1,368 1,173 Depreciation 284 195 159 Interest-net Total expenses 12,930 0.00 12,088 2.83 11,082 0.00 Pre-tax earnings 3,554 65.83 4,635 62.54 5,115 65.49 Income tax provision 1,324 1,710 1,899 65.83 % 2$ 2,925 62.54 % 3,216 65.49 % Net earnings 2$ 2,230

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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