Answer:
The amount of warranty expense on Angel's 2018 income statement is $11.58 million.
Explanation:
Income statement : The income statement is that statement which represents the income for the particular year.
The income is calculated by subtracting all types of costs from sales revenue.
The motive behind the preparation of income statement is to examine the company profitability, financial performance, etc.
The amount of warranty expense on Angel's 2018 income statement is calculated below
= Net sales × cost of warranty program
= $193 million × 6%
= $11.58 million
The other cost like repairing cost or replacement cost is not considered while calculating the warranty expense
Hence, the amount of warranty expense on Angel's 2018 income statement is $11.58 million.
Answer: O EQUILIBRIUM
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