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In the income statement below, ABC Trade Inc. wants to find the resulting net income for the year 2018 (in million). What is the right amount? Income Statement ($ Million)   Year End   2015 2016 2017 2018 Sales 1,234.90 1,251.70 1,300.40 1,334.40 Cost of Sales (679.10) (659.00) (681.30) (667.00) Gross Operating Income                   Selling & Administration (339.70) (348.60) (351.20) (373.30) Depreciation (47.50) (52.00) (55.90) (75.20) Other Income/Expenses 11.80 7.60 7.00 8.20 Earnings Before Interest and Taxes                   Interest Income 1.30 1.40 1.70 2.00 Interest Expense (16.20) (15.10) (20.50) (23.70) Pre Tax Income                   Income Taxes (56.80) (64.20) (67.50) (72.60) Net Income                   Dividends (38.30) (38.70) (39.80) (40.10) Addition to Retained Earnings           Group of answer choices 121.8 108.7 132.7 132.8 No choice given

In the income statement below, ABC Trade Inc. wants to find the resulting net income for the year 2018 (in million). What is the right amount? Income Statement ($ Million)   Year End   2015 2016 2017 2018 Sales 1,234.90 1,251.70 1,300.40 1,334.40 Cost of Sales (679.10) (659.00) (681.30) (667.00) Gross Operating Income                   Selling & Administration (339.70) (348.60) (351.20) (373.30) Depreciation (47.50) (52.00) (55.90) (75.20) Other Income/Expenses 11.80 7.60 7.00 8.20 Earnings Before Interest and Taxes                   Interest Income 1.30 1.40 1.70 2.00 Interest Expense (16.20) (15.10) (20.50) (23.70) Pre Tax Income                   Income Taxes (56.80) (64.20) (67.50) (72.60) Net Income                   Dividends (38.30) (38.70) (39.80) (40.10) Addition to Retained Earnings           Group of answer choices 121.8 108.7 132.7 132.8 No choice given

Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter12: Fainancial Statement Analysis
Section: Chapter Questions
Problem 86PSB
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In the income statement below, ABC Trade Inc. wants to find the resulting net income for the year 2018 (in million). What is the right amount?

Income Statement ($ Million)
  Year End
  2015 2016 2017 2018
Sales 1,234.90 1,251.70 1,300.40 1,334.40
Cost of Sales (679.10) (659.00) (681.30) (667.00)
Gross Operating Income        
         
Selling & Administration (339.70) (348.60) (351.20) (373.30)
Depreciation (47.50) (52.00) (55.90) (75.20)
Other Income/Expenses 11.80 7.60 7.00 8.20
Earnings Before Interest and Taxes        
         
Interest Income 1.30 1.40 1.70 2.00
Interest Expense (16.20) (15.10) (20.50) (23.70)
Pre Tax Income        
         
Income Taxes (56.80) (64.20) (67.50) (72.60)
Net Income        
         
Dividends (38.30) (38.70) (39.80) (40.10)
Addition to Retained Earnings        

 

Group of answer choices
121.8
108.7
132.7
132.8
No choice given
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