Chot 1 Akron C a Secure httpsedugenwileypluscomedugenltimain

Chot 1 Akron C a Secure https://edugen.wileyplus.com/edugen/lti/main.uni Kimmel, Financial Accounting, 8e, Custom for University of Akron Help I System Announcements MENT RESOURCES Exercise 1-5 (Part Level Submission) Suppose the following information was taken from the 2017 financial stateme ss Chpt 1-2A nts of pharmaceutical giant Kingb Review 1-2 ise 1-1 ise 1-5 (Part Leve Retained earnings, January 1, 2017 Cost of goods sold Selling and administrative expenses Dividends $49,527.5 8,718.2 8,221.5 3,572.6 37,832.6 5,218.1 3,155.2 Score Results by Study ve Sales revenue Research and development expense Income tax expense (a1) After analyzing the data, prepare an income statement for the year ending December 31, 2017. (Enter amou Kingbird, Inc. Income Statement For the Month Ended December 31, 2017 (in millions Revenues SHOW LIST OF ACCOUNTS LINK TO TEXT VIDEO: SIMILAR EXERCISE VIDEO: APPLIE References Google Chrome

Solution

Income Statement Calculations Particulars Amount $ Amount $ Revenues A Sales Revenue       37,833 Expenses B Cost of goods sold          8,718 C Selling and administrative expenses          8,222 D Research and development expense          5,218 E Income tax expense          3,155 F = Sum B to E Total Expenses       25,313 G = A - F Net Income       12,520