Problem:
The following items are from a company's consolidated financial statement:
accounts payable $619.0
accounts receivable, net 741.0
accumulated other comprehensive
income (reduction of owner's equity
listed after treasury stock) (853.4)
capital in excess of par value 49.9
cash and cash equivalents 100.6
cash dividends (412.6)
common stock 103.8
cost of goods sold 4569.0
current maturities of long term debt 776.4
Income taxes (expense) 423.4
interest expense 391.2
inventories 603.2
long term debt 4519.4
net sales 8304.1
notes payable 420.9
other assets (long term) 5615.7
other current assets 318.6
other current liablities 1198.6
other income (expense) net 27.4
other liabilities (long term) 1789.9
property net 2840.2
retinaed earnings, beginning of year 1564.7
selling general and administrative
expense 2227.0
treasury stock at cost ( reduction
of owner's equity listed after retained
earnings) (278.2)
also,
Discuss the impact of a $2 million increase the net sales. What financial statement items would change as a result of net sales increasing to $10,304.1 million from $8,304.1 million?