1. The Bellcamp Soup Company uses the straight-line depreciation for financial reporting purposes and accelerated depreciation for tax purposes. The companys tax rate is 35%.

The following information is extracted from the companys financial statements (amounts in $ millions).

Year 10 Year 11

Depreciation Expense 175.9 184.1

Net Income 4.4 401.5

Net Plant, Property and Equipment 1,717.7 1,790.4

Total Assets 4,115.6 4,149.0

Retained Earnings 1,653.3 1,912.6

Deferred Tax Liability--Plant (from Notes) 184.6 175.6

As an analyst, you have decided to adjust the companys financial statements to reflect the conversion from straight-line to accelerated depreciation. Use the information provided to calculate the adjusted values for Year 11 of the following:

a. Net Plant, Property and Equipment.

b. Retained Earnings.

c. Net Income.