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ACC 600 Spring 2014 Midterm

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solution


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ACC 600 Spring 2014 Midterm;Refer to the financial statement data for the company ABC;Financial Statements;INCOME STATEMENT (in millions);Fiscal year end;2013;2012;2011;Sales;$2,696;$ 3,139;$ 2,816;Cost of Goods Sold;(1,252);(1,288);(1,099);Selling, General & Admin. Exp.;Advertising;(387);(364);(297);Research and Development;(157);(143);(154);Royalty Expense;(223);(248);(296);Other Selling and Administrative;(385);(799);(788);Interest expense;(32);(53);(78);Income tax expense;(64);(69);(29);Net income;$ 196;$ 175;$ 75;Balance Sheet;Fiscal year end;2013;2012;2011;2010;ASSETS (in millions);Cash;$ 625;$421;$ 496;$233;Accounts Receivable;579;607;555;572;Inventories;195;169;190;217;Prepayments;219;212;191;346;Total current assets;$1,618;$1,409;$1,432;$1,368;Property, plant & equipment;207;200;213;236;Other Assets;1,416;1,554;1,498;1,765;Total assets;$3,241;$3,163;$3,143;$3,369;LIABILITIES;Accounts payable;$ 168;$ 159;$ 166;$ 123;Short-term borrowing;342;24;223;36;Other current liabilities

Paper#79429 | Written in 18-Jul-2015

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