The adjusted trial balance of Pacific Scientific Corporation on December 31, 2021, the end of...
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Accounting
The adjusted trial balance of Pacific Scientific Corporation on December 31, 2021, the end of the company's fiscal year, contained the following income statement items ($ in millions): sales revenue. $2,170; cost of goods sold. $1,380: selling expense. $185: general and administrative expense, $175, interest expense, $50, and gain on sale of investments, $80. Income tax expense has not yet been recorded. The income tax rate is 25%. Prepare a multiple-step income statement for 2021. (Amounts to be deducted should be Indicated with a minus sign. Enter your answers In millions (l.e., 10,000,000 should be entered as 10).) PACIFIC SCIENTIFIC CORPORATION Income Statement For the Year Ended December 31, 2021 Gross profit Operating expenses Total operating expenses Operating income Other income (expense): Total other income, net Income before income taxes Net inconse
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