90.2K

Verified Solution

Link Copied!

Abbreviated Income Statements for the Years Ending 2012-2014 ($ in thousands, except earnings per share) 1 Year Ending Account Revenue $ Cost of goods sold $ Gross profit $ Selling, general, and administrative expenses $ Research and development $ Depreciation $ Operating income $ Other income $ EBIT Interest expense Income before tax Taxes SA EA $ 2014 Year Ending 2013 917,342 $ $ 169,414 $ -70,593 $ -5,358 $ $ 60,426 $ 686 $ $ -6,787 $ EA $ -20,372 $ 946,112 $ -669,391 $ $ $ -7,068 $ -34,523 $ 81,307 $ $ 82,405 $ $ 74,875 $ -28,078 $ Year Ending 2012 -656,230 315,018 -192,909 -3,435 -35,688 1,745 84,731 -8,720 76,011

\begin{tabular}{|c|c|c|c|c|c|c|} \hline \multicolumn{7}{|c|}{\begin{tabular}{l} Abbreviated Income Statements for the Years Ending 2 \\ ( $ in thousands, except earnings per share) \end{tabular}} \\ \hline Account & \multicolumn{2}{|c|}{\begin{tabular}{l} Year Ending \\ 2014 \end{tabular}} & \multicolumn{2}{|c|}{\begin{tabular}{l} Year Ending \\ 2013 \end{tabular}} & \multicolumn{2}{|c|}{\begin{tabular}{l} Year Ending \\ 2012 \\ \end{tabular}} \\ \hline Revenue & $ & 917,342 & $ & 946,112 & $ & \\ \hline Cost of goods sold & $ & & $ & 669,391 & $ & 656,230 \\ \hline Gross profit & $ & 169,414 & $ & & $ & 315,018 \\ \hline Selling, general, and administrative expenses & $ & 70,593 & $ & & $ & 192,909 \\ \hline Research and development & $ & 5,358 & $ & 7,068 & $ & 3,435 \\ \hline Depreciation & $ & & $ & 34,523 & $ & 35,688 \\ \hline Operating income & $ & 60,426 & $ & 81,307 & $ & \\ \hline Other income & $ & 686 & $ & & $ & 1,745 \\ \hline EBIT & $ & & $ & 82,405 & $ & 84,731 \\ \hline Interest expense & $ & 6,787 & $ & & $ & 8,720 \\ \hline Income before tax & $ & & $ & 74,875 & $ & 76,011 \\ \hline Taxes & $ & 20,372 & $ & 28,078 & $ & \\ \hline \end{tabular}

Answer & Explanation Solved by verified expert

See Answer