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Sales Allowances Fitz-Chivalry Corporation reports the following information on its 2019 income statement. ...

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Accounting

Sales Allowances
Fitz-Chivalry Corporation reports the following information on its 2019 income statement.
Required
income statement? Assume the company's combined federal and state tax rate is 24%.
Hint: For adjustments to the income statement, we assume the normal 7% for the ratio of Allowance for sales returns to Gross sales for each year.
Determine the 2019 adjusted allowance for sales return. (Round answer to nearest whole number.)
$ millions
2019
Adjusted (total) allowance for sales returns
Using the adjusted (total) allowance for sales returns computed above, determine the 2019 adjustments for the following income statement items.
Notes:
Round answers to nearest whole number.
Use negative signs with answers to indicate the adjustment decreases an account.
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