Consolidated Income Statements for Winged Manufacturing Assignment

Consolidated income statements for Winged Manufacturing follow.

Winged Manufacturing
Consolidated Income Statements
Three fiscal years ended December 31 (in thousands except per share amounts)
1 2019 2018 2017
2 Sales $9,188,748.00 $7,976,954.00 $7,086,542.00
3 Costs and expenses:
4 Cost of goods sold $6,844,915.00 $5,248,834.00 $3,991,337.00
5 Research and development 564,303.00 664,564.00 602,135.00
6 Selling, general, and administrative 1,384,111.00 1,632,362.00 1,637,262.00
7 Restructuring costs and other (126,855.00) 320,856.00 50,000.00
8 $8,666,474.00 $7,866,616.00 $6,280,734.00
9 Operating income $522,274.00 $110,338.00 $805,808.00
10 Interest and other income, net (21,988.00) 29,321.00 49,634.00
11 Income before income taxes $500,286.00 $139,659.00 $855,442.00
12 Provision for income taxes 190,108.00 53,070.00 325,069.00
13 Net income $310,178.00 $86,589.00 $530,373.00
14 Earnings per common and common equivalent share $2.61 $0.73 $4.33
15 Common and common equivalent shares used in the calculations of earnings per share 118,735.00 119,125.00 122,490.00

Required:

 

Prepare common size income statements for horizontal analysis (in percentage terms, rounded to one decimal place). You do not need to include the actual dollar amounts shown above.
Labels
Costs and expenses
Amount Descriptions
Earnings per common and common equivalent share
Net income  

 

Net loss. Get Accounting homework help today
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