Selected information from PharmaCares financial statements for the years ended December 31, Year 6 and Year 7,

Question:

Selected information from PharmaCare€™s for the years ended December 31, Year 6 and Year 7, appear below. PharmaCare is a German pharmaceutical company that applies IFRS and reports its results in millions of euros (‚¬). a. What portion of PharmaCare€™s total net income in Year 7 came from discontinued operations?
How does this compare to Year 6?
b. What portion of PharmCare€™s total assets in Year 7 is associated with discontinued operations? How does this compare to Year 6?
c. What explains the large decline in PharmCare€™s assets held for discontinued operations in Year 7?
PharmaCare
Balance Sheet and Income Statement Data
December 31, Year 7 and Year6

Selected information from PharmaCare€™s financial statements for the years ended

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...