2017 Correct Secure htpsnewconnect mheducation Module 2-Chapter 1 Practice Exerc

Question

2017 Correct Secure htpsnewconnect mheducation Module 2-Chapter 1 Practice Exercises 10 Exercise 1-20 Preparing an income statement for a global company LO P2 Ford Motor Company, one of the world's lergest automakers, reports the following income statement accounts for the year ended December 31, 2015 (S In millions) Seling and administrative costs Cost of sales Otherexpenses Using the above information prepare Fords income statement for the year ended December 31, 2015. (Enter your answers in 1034,370 uiign

Explanation / Answer

FORD MOTOR COMPANY Income Statment For the Year ended December 31 ,2015 Revenue Revenue $ 1,034,370 Expenses Cost of sales $ 631,059 Selling and administration costs $ 220,039 Other Expenses $ 95,706 Total Expenses (A+B+C) $ 946,804 Net Income (revenue - Total Expenses) $ 87,566

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