Carnival’s financial statements state: 

“We are the world’s largest leisure travel company and among the most profitable and financially strong in the cruise and vacation industries. We are also the largest cruise company, carrying nearly half of global cruise guests, and a leading provider of vacations to all major cruise destinations throughout the world. With operations in North America, Australia, Europe and Asia, we operate a portfolio of leading global, regional and national cruise brands that sell tailored cruise products, services and vacation experiences on 104 cruise ships to the world’s most desirable destinations.”

Below is an alphabetical list of Carnival’s accounts and account balances as of November 30, 2022 (all amounts in millions of US dollars). Use this information to re-create Carnival’s fiscal 2022 Balance Sheet and Income Statement on the following pages. 

Accounts payable		1,050
Accounts receivable		395
Cash		6,017
Common stock		6,796
Current maturities of long-term debt		2,739
Food expense		863
Fuel expense		2,157
Income tax expense		14
Interest expense		1,609
Interest income		74
Inventory		428
Intangible assets		5,524
Long-term debt		34,033
Other accrued expenses		1,942
Other ship operating expenses		11,511
Prepaid expenses		652
Property and equipment, net		38,687
Retained earnings (ending balance on 11/30/18)		269
Sales revenue		12,168
Salaries and wages expense		2,181
Unearned revenue		4,874

 

Prepare Carnival’s BALANCE SHEET (accounts and amounts) as of November 30, 2022. I provided the names and locations for the balance sheet subtotals and totals to help you structure the balance sheet.

Consolidated Balance Sheet As of November 30, 2022 In millions of $
ASSETS
Total Current Assets
Total Assets
LIABILITIES
Total Current Liabilities
Total Liabilities
STOCKHOLDERS’ EQUITY
Total Stockholders’ Equity
Total Liabilities and Stockholders’ Equity

Prepare Carnival’s INCOME STATEMENT (accounts and amounts) for the year ended November 30, 2022. I provided the names and approximate locations for the subtotals to help you structure the income statement.

Consolidated Income Statement As of November 30, 2022 In millions of $
Income from operations
Income before Income Taxes
Net Income
Earnings per Share (rounded to the nearest cent)*

   *Carnival had 1,180 million shares of common stock outstanding.

prepare the carnival income statement and balance sheet for the 30  november 2022 

CARNIVAL CORPORATION & PLC