Operating income from financial services

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Reference no: EM131025782

The December 28, 2013 income statement of Snap-On Incorporated includes the amounts shown below. The company paid dividends of $93.2 (in millions). Prepare the closing entries for the company for 2013. (in millions) Net sales $3,056.5 Deferred revenue 1,567.0 Cost of goods sold 1,583.6 Other operating expenses 1,012.4 Interest expense, net 60.0 Accumulated depreciation 245.0 Operating income from financial services 125.7 Income tax expense 166.7

Reference no: EM131025782

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