Staples, Inc. (SPLS) is a leading office products distributor, with retail stores in the United States, Canada, Asia, Europe, and South America. The following financial statement data were adapted from recent financial statements of Staples:

a. Determine the missing data indicated for (1) and (2).

b. Using the income statement data for Year 2, determine the amount of net income or loss.

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Year 2 Year 1 (in millions) (in millions) Total assets $ 8,271 $10,172 Total liabilities (1) 3,696 4,788 Total stockholders'equity (2) Sales 18,247 Cost of goods sold Operating expenses Other expense (net) 13,489 4,967 143 Income tax expense 107