Prepare common-sized income statements for all prior years. BALANCE SHEET (USD in millions) Assets Current assets Non-current
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Prepare common-sized income statements for all prior years.
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BALANCE SHEET (USD in millions) Assets Current assets Non-current assets 2020 Cash and cash equivalents $6,877.00 Short-term investments $53,539.00 Total current assets $60,416.00 Gross property, plant and equipment $12,427.00 Accumulated Depreciation $(9,095.00) Total non-current assets $3,332.00 Total assets $ 63,748.00 Liabilities Current liabilities Non-current liabilities 28 Total liabilities Short-term debt $3,897.00 Long-term debt $ 21,457.00 $ 25,354.00 Stockholders' equity Common stock Retained earnings Total stockholders' equity $ 22,340.00 $ 16,054.00 $38,394.00 Total liabilities and stockholders' equity $ 63,748.00 BALANCE SHEET (USD in millions) Assets Current assets Non-current assets 2020 Cash and cash equivalents $6,877.00 Short-term investments $53,539.00 Total current assets $60,416.00 Gross property, plant and equipment $12,427.00 Accumulated Depreciation $(9,095.00) Total non-current assets $3,332.00 Total assets $ 63,748.00 Liabilities Current liabilities Non-current liabilities 28 Total liabilities Short-term debt $3,897.00 Long-term debt $ 21,457.00 $ 25,354.00 Stockholders' equity Common stock Retained earnings Total stockholders' equity $ 22,340.00 $ 16,054.00 $38,394.00 Total liabilities and stockholders' equity $ 63,748.00
Expert Answer:
Answer rating: 100% (QA)
To prepare commonsized income statements for all prior years we need to express each line item as a percentage of revenue This allows us to analyze th... View the full answer
Related Book For
Financial Accounting
ISBN: 978-0078025556
8th edition
Authors: Robert Libby, Patricia Libby, Daniel Short
Posted Date:
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