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Christy Company operates in the entertainment industry. In June 2013, Christy purchased Matt?s Movies which produces and distributes various video products. The purchase resulted in
Christy Company operates in the entertainment industry. In June 2013, Christy purchased Matt?s Movies which produces and distributes various video products. The purchase resulted in $2.7 million in goodwill. Since then, Christy has undertaken a number of business acquisitions and diversifications as the company expands. Selected date from a recent annual report are as follows: (dollars in thousands)
Property, Plant & Equipment and Intangibles Balance Sheet | Current Year | Prior Year |
Film cost (net of amortization) | $1,272 | $991 |
Artists' Contracts and other Entertainment Assets | $761 | $645 |
Property, Plant & Equipment (net) | $2,733 | $2,559 |
Excess of Cost over Fair Value of Assets Acquired | $3,076 | $3,355 |
Accumulated Depreciation on Property, Plant & Equipment | $1,178 | $1,023 |
Income Statement | ||
Total Revenue | $9,714 | $10,644 |
Statement of Cash Flows | ||
Income from Operations | $880 | $445 |
Adjustments | ||
Depreciation | $289 | $265 |
Amortization | $208 | $190 |
Other Adjustments | -$1,618 | -$256 |
Net Cash Provided by Operations | -$241 | $644 |
What was the approximate age of the property, plant, and equipment at the end of the current year?
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