Newell Brands Incorporated is a leading global consumer goods company with a strong portfolio of...
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Accounting
Newell Brands Incorporated is a leading global consumer goods company with a strong portfolio of well-known brands, including Sharpie, Paper Mate, Mr. Coffee, Rubbermaid, Yankee Candle, and others. The items reported on its income statement for the year ended December 31, 2019, are presented here (dollars in millions) in alphabetical order:
Cost of Products Sold
$ 6,495.5
Income Tax Benefit
1,037.7
Interest and Other Nonoperating Expense
369.9
Impairment expense of goodwill, intangibles and other assets
1,223.0
Loss from discontinued operations, net of tax
(79.5)
Net Sales
9,714.9
Other Expense
27.1
Selling, General, and Administrative Expenses
2,451.0
Required:
Prepare a multiple-step consolidated income statement. Hint: Impairment expenses are operating expenses.
Note: Enter your answers in millions rounded to 1 decimal place (i.e., 10,000,000 should be entered as 10.0).
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