Question: Can I please get help with this question? My wrong answers are marked by red xs. 2219 QUESTION 3 incorretMak00 out of 13.00 Reformulating Financial
Can I please get help with this question? My wrong answers are marked by red "x"s.
2219 QUESTION 3 incorretMak00 out of 13.00 Reformulating Financial Statements For Warranty Expense Income statement data for Whirlpool Industries from the company's 2016 financial statements follow. Use these data to reformulate the income statement for 2014, 2015, and 2016 under the assumption that warranty expense is a constant percentage of revenue across all three years. Specifically, compute the adjustments to: warranty expense, income tax expense, and net income. The company's tax rate is 30%. 12 Months Ended ( Net sales Warranty expense millions) Dec. 31, 2016 520,718 316 Dec. 31, 2015 20,891 560 Dec. 31, 2014 $19,872 322 Compute the average warranty expense to net sales rate over the past three years. Round answer to two decimal places (ex: 0.02345-2.3596) % Using your rounded answer, compute the adjusted warranty expense for each year . Round answers to one decimal place. . Use a negative sign to indicate if the adjustment decreases an account balance. Income Statements Adjustments djusted warranty experse Adjustment required to warranty expense 2016 2015 2014 income tax expense Nct Incomc 3.8
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