The following represents a recent income statement for Boeing Company.

It includes only five separate numbers (two of which are in billions of dollars), two subtotals, and the net earnings figure.Instructions(a) Indicate the deficiencies in the income statement.(b) What recommendations would you make to Boeing to improve the usefulness of its incomestatement?

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($ in millions) $21,924 20.773 Sales Costs and expenses Income from operations Other income 1,151 122 (130) 1,143 Interest expense Earnings before income taxes Income taxes (287) Net income $4 856