Suppose the below information is taken from the 2017 financial statements of the pharmaceutical giant Pharoah Company (all dollar amounts are in millions).

Retained earnings, January 1, 2017		$45,351.5
cost of goods sold		8,996.6
Selling and administrative expenses		8,221.5
dividends		3,387.0
sales revenue		42.194,2
Research and development expenses		5.125,3
Income from tax expenses		2,969.6

Required:

After analyzing the data, prepare a statement of retained earnings for the year ending December 31, 2017

Answer rating: 100% (QA)

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