During its second and third quarters of fiscal 2014, Raspberry, Inc. wrote down its BB10 smartphone inventory by approximately $1,698,000,000 because its cost exceeded its market value.

Required:

1.	Complete the table below, indicating the account, amount, and direction and show the effects for the above adjustment. (Enter any decreases to account balances with a minus sign.)

A) (sort of like a journal entry)

Assets		=	Liabilities		+	Stockholders Equity

B)

Prepare the journal entry that the company would have made to record the above adjustment. Record the inventory write down of $1,698,000,000 to LCM.