Question: Sysco Corp. is one of the nations leading distributors of food and related products to restaurants, universities, hotels, and other customers. A simplified version of

Sysco Corp. is one of the nation’s leading distributors of food and related products to restaurants, universities, hotels, and other customers. A simplified version of its recent income statement contained the following items (in millions). Prepare an income statement for the year ended June 30, current year.

Cost of sales Income taxes Interest expense Net earnings Sales Earnings before income taxes Selling, general, and administration expense Other revenues Total expenses (excluding income taxes) Total revenues Source: Sysco Corp. $44,814 371 303 1,395 55,371 1,766 8,504 16 53,621 55,387

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