uppe the fuig information was taken from the 2017 Enandal st

uppe the fuig information was taken from the 2017 Enandal statements of pharmaceuticel giant Pharnah myall dar ns Retained eamings, ary 1201 145,351.5 ,9964 221.5 ,3070 42.194 2 ,1253 vidend Sales revenus Researth and develiment speme Pharoah Commpany

Solution

Income Statement For the year ended December 31,2017 Revenue Sales Revenue 42194.2 Expenses: Cost of goods sold 8996.6 Selling and administrative expenses 8221.5 Research and development expense 5125.3 Income tax expense 2969.6 Total expenses 25313 Net income 16881.2 Retained Earnings Statement For the year ended December 31,2017 Retained earnings, January 1 45351.5 Add: Net income 16881.2 62232.7 Less: Dividends 3387 Retained earnings, December 31 58845.7