Question

Suppose the following information was taken from the 2022 financial statements of pharmaceutical giant Merck and Co. (All dol

al) . Your answer is partially correct. After analyzing the data, prepare an income statement for the year ending December 31

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Answer

--Requirement [a1]

Income Statement
for the year ended 31 Dec 2022
Revenues:
Sales revenue $46,800
Expenses:
Income tax expense $3,100
Cost of Goods Sold $8,500
Selling & Admin expense $8,800
Research & development expense $6,400
Total Expense $26,800
Net Income / (Loss) $20,000
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