Question
Please show working s in excel Diaz Manufacturing Company, a fictional Houston-based provider of petroleum and industrial equipment and services worldwide. Diaz Manufacturing was formed
Please show working s in excel
Diaz Manufacturing Company, a fictional Houston-based provider of petroleum and industrial equipment and services worldwide. Diaz Manufacturing was formed in 2013 as a spin-off of several divisions of Cooper Industries. The firm specializes in the design and manufacturing of systems used in petroleum production and has two divisions: (1) Diaz Energy Services, which sells oil and gas compression equipment, and (2) Diaz Manufacturing, which makes valves and related parts for energy production. In 2017 Diaz Manufacturing's sales increased to $1.56 billion, an increase of 12.8 percent from the previous year. A letter to stockholders in the 2017 annual report stated that management did not expect earnings in 2018 to exceed the 2017 earnings. The reason for caution was that Diaz's earnings are very susceptible to changes in the political and economic environment in the world's energy-producing regions, and in 2017 the environment in the Middle East was highly unstable. Management reassured investors, however, that Diaz had the financial strength and the management team needed to weather any economic adversity. Arrange in Excel the following accounts and their relevant accounts to create a properly labeled and formatted comparative balance sheet for Diaz Manufacturing. Note all values are in millions. Accumulated Depreciation Accounts receivable Accrued taxes Long term debt Cash Goodwill and other assets Preferred stock Notes payable Additional Paid-in Capital Plant and Equipment Inventories Accounts payable and accruals Other current assets Common stock (54,566,054 shares) Treasury stock (571,320 shares) Retained Earnings 2017 Values 512.2 306.2 18.0 574.0 288.5 450.0 0.0 10.5 842.9 911.6 423.8 349.3 21.3 50.0 (23.3) 67.8 2016 Values 429.1 268.8 16.8 305.6 16.6 411.6 0.0 4.2 842.9 823.3 372.7 325.0 29.9 50.0 0.0 (50.7)
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