Question
Assume the following is a list of account titles and amounts (in millions) reported at December 31, 2017, by Hasbro, Inc., a leading manufacturer of
Assume the following is a list of account titles and amounts (in millions) reported at December 31, 2017, by Hasbro, Inc., a leading manufacturer of games, toys, and interactive entertainment software for children and families:
Buildings and Improvements | $ | 200 | Goodwill | $ | 500 | ||
Prepaids and Other Current Assets | 176 | Machinery and Equipment | 438 | ||||
Allowance for Doubtful Accounts | 27 | Accumulated Depreciation | 378 | ||||
Other Non-current Assets | 205 | Inventories | 326 | ||||
Cash and Cash Equivalents | 655 | Other Intangibles | 593 | ||||
Accounts Receivable | 669 | Land and Improvements | 6 | ||||
Required: 1. Prepare the asset section of a classified balance sheet for Hasbro, Inc., assuming Hasbro follows ASPE. (Enter your answers in millions. Amounts to be deducted should be indicated by a minus sign.)
2-a. Assuming that Hasbros 2017 Net Sales Revenue was $4,722 (million) and its Net Fixed Assets was $193 (million) at December 30, 2016, calculate the fixed asset turnover ratio for 2017. (Round your answer to 2 decimal places.)
December 31, 2017 (in millions) Assets Current assets Total current assets Property, plant, and equipment Total Property, plant, and equipment (at cost) Total property, plant and equipment (net) Other assets Total other assets Total assets
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