Mitsubishi 2004 Annual Report Download - page 32

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In millions of yen In thousands of
U.S. dollars
(Note 5)
2004 2003 2004
Net sales ¥2,519,449 ¥3,884,874 $23,838,109
Cost of sales (Note 6) 2,160,612 3,162,011 20,442,923
Reversal of deferred profit on installment sales, net 50 167 476
Gross profit 358,887 723,029 3,395,661
Selling, general and administrative expenses (Note 14) 455,739 640,268 4,312,044
Operating (loss) profit (96,852) 82,761 (916,382)
Interest and dividend income 13,021 10,155 123,202
Interest expense 29,335 36,710 277,557
Other income (loss), net (Notes 9 and 15) 35,992 (14,000) 340,547
(Loss) profit before income taxes and minority interests (77,173) 42,206 (730,191)
Income taxes (Note 20):
Current 4,272 22,167 40,428
Deferred 133,573 (19,121) 1,263,828
137,846 3,045 1,304,256
Minority interests 403 1,798 3,815
Net (loss) income (Note 23) ¥ (215,424) ¥ 37,361 $ (2,038,263)
See accompanying notes to consolidated financial statements.
30
Consolidated Statements of Operations
Mitsubishi Motors Corporation and Consolidated Subsidiaries
For the years ended March 31, 2004 and 2003