Assessing Research and Development Expenses Abbott Laboratories reports the following income statement, in partial form...
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Assessing Research and Development Expenses Abbott Laboratories reports the following income statement, in partial form ($ millions): Year ended December 31 2018 Net sales $30,578 Cost of products sold 12,706 Amortization of intangible assets 2,178 Research and development* 2,300 Selling, general and administrative 9,744 Total operating cost and expenses 26,928 Operating earnings $3,650 * including acquired in-process and collaborations R&D a. Compute the percent of net sales that Abbott Laboratories spends on research and development (R&D). Round answer to one decimal place (i.e., 0.1426 = 14.3%) Answer 0 % b. Using the financial statement effects template, describe how the accounting for R&D expenditures affects Abbott Laboratories balance sheet a
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