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30. Fill in the blanks to complete Procter & Gamble’s Income Statement ($ millions).
Procter & Gamble
Income Statement
For Year Ended June 30, 2011
Sales $ ?
Expenses 67,370
Earnings before income taxes 15,189
Income taxes ?
Net earnings $ 11,797
Fill in the blanks to complete the Procter & Gamble Balance Sheet ($ millions).
Balance Sheet
June 30, 2011
Cash
$ 2,768
Current liabilities
$ ?
Non-cash assets
?
Long-term liabilities
43,060
Shareholders’ equity
68,001
Total assets
Total liabilities and equity
$138,354
Identify the financial statements in which you would find each of the items listed below. Some items may appear on more than one statement. Indicate all financial statements that apply to each item. The possible choices are:
B :
Balance sheet
SE :
Statement of Stockholders’ Equity
I :
CF :
Statement of Cash Flows
Financial Statement Item
Financial Statement
a. Office building
b. Trademarks
c. Dividends
d. Proceeds of sale of investments
e. Repayments of bank loan
f. Treasury stock
Determine the amount of net income for April, assuming that noadditional capital stock was issued but dividends of $25,000 werepaid during the month.
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