Income statement relations Selected income statement information for three recent years appears next for ABB. the Swiss engineering firm, based on ABB's financial reports for fiscal 2007. ABB applies U.S. GAAP and reports its results in millions of U.S. dollars.

Compute the missing amounts for each of the threeyears.

Transcribed Image Text:

2007 2005 2006 Sales of Products $17,622 $24,816 Income Tax Expense 595 464 Earnings Before Interest and Taxes 4,023 $2,557 Sales of Services .... 3,778 4,367 3,342 Selling and Administrative Expenses 3,780 4,975 Cost of Services Sold... 2,570 2,305 Income Before Taxes . 2,076 1,199 Other Operating Income (Expense) Interest and Other Financial Expense Gross Profit ... 139 37 407 286 8,968 6,744 Cost of Products Sold 13,967 13,205 17,292 Other Nonoperating Income (Expense) (321) (258) Interest and Dividend Income 273 147 Net Income 3,757 1,390