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LO 17-3, 4 17- Your firm audits Metropolitan Power Supply (MPS). The issue under consideration is the 39. treatment in the company's financial statements of
LO 17-3, 4 17- Your firm audits Metropolitan Power Supply (MPS). The issue under consideration is the 39. treatment in the company's financial statements of $700 million in capitalized construction costs relating to Eagle Mountain, a partially completed nuclear power plant. comp:marginal text LO 17-3, 4 Seven years ago, MPS began construction of Eagle Mountain, with an original cost estimate of $400 million and completion expected within five years. Cost overruns were enormous, and construction has been repeatedly delayed by litigation initiated by the antinuclear lobby
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