Karl Company operates in both the beverage and entertainment Industrles. In June 2013 , Karl purchased Good TIme, Inc., which produces and distributes motion picture, television, and home video products and recorded music; publishes books; and operates theme parks and retall stores. The purchase resulted in $2.7 billion in goodwill. Since then, Karl has undertaken a number of business acquisitions and divestitures (sales of businesses) as the company expands Into the entertainment Industry. Selected data from a recent annual report are as follows (amounts are in U.S. dollars in millions): Required: 1. Compute the cost of the property, plant, and equipment at the end of the current year. (Enter answer values in million of dollars.) 2 What was the approximate age of the property, plant, and equipment at the end of the current year? (Round final answer to one decimal place.) 3. Compute the fixed asset turnover ratio for the current year. (Round your answer to 1 declmal place.) 4. What is "excess of cost over falr value of assets acquired"? 5. On the consolidated statement of cash flows, why are the depreclation and amortlzation amounts added to income from continuing operations? Karl Company operates in both the beverage and entertainment Industrles. In June 2013 , Karl purchased Good TIme, Inc., which produces and distributes motion picture, television, and home video products and recorded music; publishes books; and operates theme parks and retall stores. The purchase resulted in $2.7 billion in goodwill. Since then, Karl has undertaken a number of business acquisitions and divestitures (sales of businesses) as the company expands Into the entertainment Industry. Selected data from a recent annual report are as follows (amounts are in U.S. dollars in millions): Required: 1. Compute the cost of the property, plant, and equipment at the end of the current year. (Enter answer values in million of dollars.) 2 What was the approximate age of the property, plant, and equipment at the end of the current year? (Round final answer to one decimal place.) 3. Compute the fixed asset turnover ratio for the current year. (Round your answer to 1 declmal place.) 4. What is "excess of cost over falr value of assets acquired"? 5. On the consolidated statement of cash flows, why are the depreclation and amortlzation amounts added to income from continuing operations