The following balance sheet (prepared according to IFRS) was taken from the 2014 annual report of Glaxo Smith Kline, a British pharmaceutical company (British pounds in millions).

REQUIRED:
Identify where the format of this balance sheet differs from that required under U.S. GAAP, and prepare a balance sheet as close as possible in accordance with U.S. GAAP.

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Consolidated Balance Sheet as at 31 December 2014 Notes 2014 £m 2013 £m Non-current assets Property, plant, and equipment Goodwill 8,872 9,052 3,724 17 4,205 18 Other intangible assets 19 8,320 9,283 Investments in associates and joint ventures 340 323 20 Notes 2014 £m 2013 £m Other investments 21 1,114 1,202 Deferred tax assets 14 2,688 2,084 Derivative financial instruments 41 Other non-current assets 22 735 889 Total non-current assets 25,973 26,859 Current assets Inventories 23 4,231 3,900 Current tax recoverable 14 138 129 Trade and other receivables 24 4,600 5,442 Derivative financial instruments 41 146 155 Liquid investments 32 69 66 Cash and cash equivalents 25 4,338 5,534 Assets held for sale 26 1,156 Total current assets 14,678 15,227 Total assets 40,651 42,086 Current liabilities Short-term borrowings 32 (2,943) (2,789) Trade and other payables 27 (7,958) (8,317) Derivative financial instruments 41 (404) (127) Current tax payable 14 (945) (1,452) Short-term provisions 29 (1,045) (992) Total current liabilities (13,295) (13,677)