Question: Exercise 4-18 Preparing an income statement under IFRS LO P4 LOral reports the following income statement accounts for the year ended December 31, 2014 (euros
Exercise 4-18 Preparing an income statement under IFRS LO P4 LOral reports the following income statement accounts for the year ended December 31, 2014 (euros in millions) Net profit Pinance costs Net sales Gross profit Other income Cost of sales 5,214.0 Income tax expense 1,180.0 6,394.0 803.0 ,937.1 6,664.5 43.9 33.0 Protit before tax expense 23,532.0 Research and development expense 6,629-7 Selling, general and administrative expense 2,158.0 Advertising and pronotion expense 6,902-3 Finance income es Prepare the income statement for this company for the year ended December 31, 2014, following usual IFRS practices. (Er answers in millions. Amounts to be deducted should be indicated by a minus sign. Round your answers to 1 decimal p Income Statement ( millions) For Year Ended December 31, 2014 0.0
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