\begin{tabular}{|c|c|c|c|} \hline \multicolumn{4}{|c|}{\begin{tabular}{c} Ine boelng Company and subsialares \\ Consolidated Statements of Financial Position \end{tabular}} \\ \hline \multicolumn{4}{|l|}{ (Dollars in millions, except per share data) } \\ \hline December 31, & & 2015 & 2014 \\ \hline \multicolumn{4}{|l|}{ Assets } \\ \hline Cash and cash equivalents & & $11,302 & $11,733 \\ \hline Short-term and other investments & & 750 & 1,359 \\ \hline Accounts receivable, net & & 8,713 & 7,729 \\ \hline Current portion of customer financing, net & & 212 & 190 \\ \hline Inventories, net of advances and progress billings & & 47,257 & 46,756 \\ \hline Total current assets & & 68,234 & 67,767 \\ \hline Customer financing, net & & 3,358 & 3,371 \\ \hline Property, plant and equipment, net & & 12,076 & 11,007 \\ \hline Goodwill & & 5,126 & 5,119 \\ \hline Acquired intangible assets, net & & 2,657 & 2,869 \\ \hline Deferred income taxes & & 265 & 317 \\ \hline Investments & & 1,284 & 1,154 \\ \hline Other assets, net of accumulated amortization of $451 and $479 & & 1,408 & 1,317 \\ \hline Total assets & & $94,408 & $92,921 \\ \hline December 31, & 2015 & 2014 & 2013 \\ \hline \multicolumn{4}{|l|}{ Cash flows - investing activities: } \\ \hline Property, plant and equipment additions & (2,450) & (2,236) & (2,098) \\ \hline Property, plant and equipment reductions & 42 & 34 & 51 \\ \hline Acquisitions, net of cash acquired & (31) & (163) & (26) \\ \hline Contributions to investments & (2,036) & (8,617) & (15,394) \\ \hline Proceeds from investments & 2,590 & 13,416 & 12,453 \\ \hline Purchase of distribution rights & & & (140) \\ \hline Other & 39 & 33 & \\ \hline Net cash (used)/provided by investing activities & (1,846) & 2,467 & (5,154) \\ \hline \end{tabular} Note 8 - Property, Plant and Equipment \begin{tabular}{lrr} Property, plant and equipment at December 31 consisted of the following: & & \\ & 2015 & 2014 \\ \hline Land & $536 & $560 \\ Buildings and land improvements & 12,397 & 11,767 \\ Machinery and equipment & 13,187 & 12,867 \\ Construction in progress & 2,242 & 1,502 \\ \hline Gross property, plant and equipment & 28,362 & 26,696 \\ Less accumulated depreciation & (16,286) & (15,689) \\ \hline Total & $12,076 & $11,007 \\ \hline \hline \end{tabular} Depreciation expense was $1,357,$1,414 and $1,338 for the years ended December 31, 2015, 2014 and 2013, respectively. Interest capitalized during the years ended December 31, 2015, 2014 and 2013 totaled $158,$102 and $87, respectively. 4. Use the attached excerpts (on Page 6) from Boeing's 2015 annual report to answer the following questions. For parts a-c, assume Boeing did not make any non-cash investing transactions relating to PP\&E and Boeing did not record any asset impairments relating to PP\&E in 2015. a. What is the book value of PP\&E disposed by Boeing in 2015? (1 point) b. How much gain/loss did Boeing recognize regarding its disposal of PP\&E in 2015 ? (1 point) c. Record the summary journal entry for the firm's disposal(s) of PP\&E in 2015. (1 point). d. Bonus: Assume that Boeing did have some non-cash investing transaction related to PP\&E. For fiscal year ended December 31, 2015, the firm has accounts payable related to purchase of PP\&E with an amount of $502 million. Record the summary journal entry for the firm's disposals of PP\&E for fiscal year ended December 31, 2015 (1 point)