On its 2016 income statement, Abbott Laboratories reported research and development expense of $1,422,000,000. Which of the following statements must be true? A. Abbott Laboratories spent $1,422,000,000 in cash to develop new products and improve old products. B. Research and development expense reduced Abbott Laboratories 2016 net income by $1,422,000,000. C. Abbott Laboratories capitalized at least $1,422,000,000 of research and development costs in 2016. D. The $1,422,000,000 included amortized research and development costs from prior years that were not previously expensed, because Abbott Laboratories incurs such expenses each year. E. None of the above
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Home » Business » On its 2016 income statement, Abbott Laboratories reported research and development expense of $1,422,000,000. Which of the following statements must be true? A.