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1. Prepare a properly classified balance sheet according to U.S. GAAP for KIP as of December 31, 2013. 2. Assume instead that KIP uses IFRS.

image text in transcribed 1. Prepare a properly classified balance sheet according to U.S. GAAP for KIP as of December 31, 2013.

2. Assume instead that KIP uses IFRS. Prepare its balance sheet as of December 31, 2013.

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