aring and analyzing financial statements for Abbott Labs (LG 8, 9) Abbott Labs is a leading pharmaceutical firm. Selected information (in millons) for the year end December 31, 2008, is shown below $29,527.6 Revenues Other current assets Noncurrent assets Long-term liabilities Cash Expenses 5.002.1 Dividends 25,376.6 Current liabilities 13,347.8 Accounts receivable 24,646.9 5,179.6 11,591.9 7.928.5 4,112.0 Owners' equity (January 1, 2008) 17,778.4 REQUIRED 1. Determine the net income for the year ended December 31, 2008 2. Prepa 3. Prepare a balance sheet at December 31, 2008. 4. Compute the percent of net income to total revenues for Abbott Labs. Pfizer's net re a statement of owners' equity for the year ended December 31, 2008. income to total revenues was 16.8%, which company was more profitable in 2008? 5. Compute the percent of total liabilities to total liabilities and owners' equity for Abbot Labs. Pfizer's percent of total liabilities is 48.2%. Which company uses more debt as a source of financing as of the end of fiscal 2008? 6. In the problem data, "other current assets" are $5,002.1 million. Included in tota current assets is cash of $4,112.0 million and accounts receivable of $7,928.5 million What individual asset do you think accounts for most of the "other current assets" $5,002.1 million