Question

M12-12. Forecast an Income Statement Amazon.com reports the following income statements. 12 Months Ended December 31 Consolidated Statements Of Operations ($ in Millions ) 2015 2014 2013 ..................... $ 79,268 27,738 107,006 $70.080 18,908 88,988 $60,903 13,549 74,452 Net product sales. ... Net service sales ........... Total net sales. .... ................... Operating expenses: Cost of sales. ....... Fulfillment ........................ ........ Marketing ............... Technology and content..... General and administrative. ........ Other operating expense, net. ..... Total operating expenses .. Income from operations .... Interest income. . Interest expense. .... Other income (expense), net ........... Total non-operating income (expense). Income (loss) before income taxes.......... Provision for income taxes................ Equity-method investment activity, net of tax .. Net income (loss) ......... 71,651 13,410 5,254 12,540 1,747 171 104,773 2,233 50 (459) (256) (665) 1,568 (950) 62,752 10,766 4,332 9,275 1,552 133 88,810 178 39 (210) (118) (289) (111) (167) 54,181 8,585 3,133 6,565 1,129 114 73,707 745 38 (141) (136) (239) 506 (161) (71) $ 274 : : : : : (22) 37 596 $ (241) .

Answer 1

ANSWER:

Below is the updated consolidated statement of operations:

	12 Months Ended December 31
Consolidated Statements of Operations ($ in millions)	2016 Forecast	2015	2014	2013
Net product sales	$91,158	$79,268	$70,080	$60,903
Net service sales	$38,833	$27,738	$18,908	$13,549
Total net sales	$129,991	$107,006	$88,988	$74,452
Operating Expenses:
Cost of sales	$87,094	$71,651	$62,752	$54,181
Fulfillment	$16,249	$13,410	$10,766	$8,585
Marketing	$6,370	$5,254	$4,332	$3,133
Technology and content	$15,209	$12,540	$9,275	$6,565
General and administrative	$2,080	$1,747	$1,552	$1,129
Other operating expenses, net	$171	$171	$133	$114
Total operating expenses	$127,173	$104,773	$88,810	$73,707
Income from operations	$2,819	$2,233	$178	$745
Interest income	$60	$50	$39	$38
Interest Expense	($520)	($459)	($210)	($141)
Other income (expense), net	($256)	($256)	($118)	($136)
Total non-operating income (expense)	($716)	($665)	($289)	($239)
Income (loss) before income taxes	$2,103	$1,568	($111)	$506
Provision for income taxes	$799	($950)	($167)	($161)
Equity-method investment activity, net of tax	($22)	($22)	$37	($71)
Net income (loss)	$2,880	$596	($241)	$274

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