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Business, 18.06.2021 01:00 rileyeddins1010

Here are simplified financial statements for Phone Corporation in a recent year: INCOME STATEMENT (Figures in $ millions) Net sales $ 13,900 Cost of goods sold 4,460 Other expenses 4,197 Depreciation 2,758 Earnings before interest and taxes (EBIT) $ 2,485 Interest expense 725 Income before tax $ 1,760 Taxes (at 30%) 528 Net income $ 1,232 Dividends $ 936

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