Question

Keurig Dr Pepper Inc.'s financial statements note that it "is a leading coffee and beverage company in North America with a diverse portfolio of flavored (non- beverages (NCBs), and is a leader in single serve coffee brewing systems in the U.S. and Canada." Below are the account balances (all normal) in alphabetical order from Keurig Dr Pepper financial statements as of December 31, 2019 except the Retained Earnings account. All amounts are in millions of U.S. dollars. Assume no new investment by stockholders in 2019. 3,176 1,115 101 21,571 4,778 358 441 45,217 440 Accounts payable Accounts receivable Cash Common stock Cost of goods sold Depreciation expense Dividends Goodwill and other noncurrent assets Income tax expense Interest expense Inventories Long-term liabilities Net sales Other current liabilities Prepaid expenses and other current assets Property, plant, and equipment, net Retained earnings (December 31, 2018) Selling, general, and administrative expenses Short-term debt 684 654 19,787 11,120 1,705 403 2,028 873 3,606 1,593

Create an income statement using the following information

Answer 1

Preparation of Income Statement Keurig Dr Peppler Inc. Income Statement For the Year Ended December 31, 2019 Particulars $ Sales Cost of Goods Sold Gross Margin Amount ($) 11,120 4,778 6,342 3,606 358 3,964 2,378 Operating Expenses Selling, general and administrative Expenses Depreciation Expense Total Operating Expenses Income from Operations Other Revenue and Expenses Interest Expense Total Other Revenue and Expenses Net Income before tax Income tax Expenses Net Income (684) (684) 1,694 440 1,254