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Suppose the following information was taking from 2022 financial statement of pharmaceutical giant Merck and Co. ( All Dollar amounts in millions).
Retained Earnings, January, 1 2022 $43, 900.00
Cost of goods sold $8,500.00
Selling and administrative expenses $9.000.0
Dividends $3,700.00
Sales Revenue $37,600.00
Research and development expense $5,100.00
Income tax expense 2.500.00
Problem 1: After analyzing the data prepare an income statement for the year ending December 31, 2022
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