Q2. Ler Adjustments on the Balance Sheet and Income Stamment (10pts. Zpes each) Below shows the Balance Sheas and Income Statements, and future lease commitments of General Electric (ticker:GE) reported in the 10-K files. Assume a 4.5% lease discount rate and a 21% income tax rate, please calculate (1) lease doprediation expense. (2) adjusted gross income. (3) adjusted net income, (4) adjusted lease right-of-use assets, and (5) adjusted total liabilities in 2019 and 2020. Lurrall les instants ther: (!) Str Balancer Sort 2020 2019 2018 2017 88,412 44,662 25,927 2.887 34,252 58,437 35.298 130679 14,562 295,050 77,545 46,186 75,187 2.896 31,897 58,532 37,387 17,931 36,504 274,080 88,082 50,749 87,475 0 36,726 46,950 77,773 20,3091 33.143 317.688 106,287 53,874 89,608 . 35,734 67.557 104,241 21,762 39,769 393,500 Ats Total Current Asses Not Property, Plant & Equipment Other Propurty, Plant & Equipment Leuse Right-af-Uw Arts Accumulated Depreciation Total Long-Term Invement Intangible Auto Defred Tax Arts Other Art Total Assets Liabilities Current Liabilities Total Current Liabilities Long-Term Debt Long-Term Debt exc Lease Obligatiom Capital and Operating Lease Obligations Provision for Risks & Charges Deferred Tax Liabilitus Other Lubis Tout Lisbttes Printed Stock (Canying Value) Common Equity Total Solux Equity Accm Minny Interest Total Equity Toallashi & Sharutades Equity I 56.060 73.642 20,288 3,354 75,010 1,598 11,170 217.489 25,023 21,206 68.810 2,396 13,662 8,042 15.850 243,790 67,337 97, 109 97109 0 63,345 8,599 23,475 79,400 110.595 110,555 0 29,266 15, SSS 24 899 308,115 6 6 30.975 6 35,546 15,552 2009 37.561 255060 6 28,310 28,316 1.4 30.300 224.0230 2012 51.63 31 54 25 64263 21 122 385 3930 terenul le company ticker: Simplified biete Sets 2020 Sales 79,893 Cost of Goods Sold (COGS) ind. D&A 59,891 COGS excluding D&A 53,873 Depreciation & Amortization Expense 6,018 Gross Income 20,002 Research & Development 2.565 Rental Expense 1,072 Other SG&A 13,304 EBIT (Operating Income) 2,061 Nonoperating Income - Net 8.962 Interest Expense 3.231 Unusual Expense - Net 3,595 Pretax Income 5,197 Income Taxes -475 Consolidated Net Income 5,658 Minority Interest -7 Net Income 5,665 Discontinued Operations .93 Preferred Dividences 474 Net Income available to Common 5.098 2019 2018 2017 95,055 121,615 120 458 66,573 87,137 84,586 60,978 78,913 77,227 5.595 8,224 7.359 28,482 34,478 35.882 3.115 4,134 4,803 1,176 1,848 1,746 15,431 16.989 29.534 8,760 11,507 -201 -564 -518 1,624 4,324 5,059 4,869 2.723 26,064 5,345 1.149 20,134 -8,791 726 583 -3,043 423 20,717 -5,759 7 -89 -277 416 -20,628 -5,482 211 -1.737 .456 461 447 436 -256 -22,812 -6,374 Future Lease Commitment Due in Year 1 General Electric Company (ticker: GE) Future Lease Commitment Future Lease Future Lease Future Lease Commitment Ceinmitment Commitment Due in Year 2 Due in Year 3 Due in Year 4 Future Lease Commitment Duran Years Future Lease Commitment Due Beyond Years 5316 5652 1970 2833 2982 2020 2019 2018 2017 2451 2625 938 1658 1647 2072 228 776 4 1000 101 TR20 681 6.18 900 578 0 Q2. Ler Adjustments on the Balance Sheet and Income Stamment (10pts. Zpes each) Below shows the Balance Sheas and Income Statements, and future lease commitments of General Electric (ticker:GE) reported in the 10-K files. Assume a 4.5% lease discount rate and a 21% income tax rate, please calculate (1) lease doprediation expense. (2) adjusted gross income. (3) adjusted net income, (4) adjusted lease right-of-use assets, and (5) adjusted total liabilities in 2019 and 2020. Lurrall les instants ther: (!) Str Balancer Sort 2020 2019 2018 2017 88,412 44,662 25,927 2.887 34,252 58,437 35.298 130679 14,562 295,050 77,545 46,186 75,187 2.896 31,897 58,532 37,387 17,931 36,504 274,080 88,082 50,749 87,475 0 36,726 46,950 77,773 20,3091 33.143 317.688 106,287 53,874 89,608 . 35,734 67.557 104,241 21,762 39,769 393,500 Ats Total Current Asses Not Property, Plant & Equipment Other Propurty, Plant & Equipment Leuse Right-af-Uw Arts Accumulated Depreciation Total Long-Term Invement Intangible Auto Defred Tax Arts Other Art Total Assets Liabilities Current Liabilities Total Current Liabilities Long-Term Debt Long-Term Debt exc Lease Obligatiom Capital and Operating Lease Obligations Provision for Risks & Charges Deferred Tax Liabilitus Other Lubis Tout Lisbttes Printed Stock (Canying Value) Common Equity Total Solux Equity Accm Minny Interest Total Equity Toallashi & Sharutades Equity I 56.060 73.642 20,288 3,354 75,010 1,598 11,170 217.489 25,023 21,206 68.810 2,396 13,662 8,042 15.850 243,790 67,337 97, 109 97109 0 63,345 8,599 23,475 79,400 110.595 110,555 0 29,266 15, SSS 24 899 308,115 6 6 30.975 6 35,546 15,552 2009 37.561 255060 6 28,310 28,316 1.4 30.300 224.0230 2012 51.63 31 54 25 64263 21 122 385 3930 terenul le company ticker: Simplified biete Sets 2020 Sales 79,893 Cost of Goods Sold (COGS) ind. D&A 59,891 COGS excluding D&A 53,873 Depreciation & Amortization Expense 6,018 Gross Income 20,002 Research & Development 2.565 Rental Expense 1,072 Other SG&A 13,304 EBIT (Operating Income) 2,061 Nonoperating Income - Net 8.962 Interest Expense 3.231 Unusual Expense - Net 3,595 Pretax Income 5,197 Income Taxes -475 Consolidated Net Income 5,658 Minority Interest -7 Net Income 5,665 Discontinued Operations .93 Preferred Dividences 474 Net Income available to Common 5.098 2019 2018 2017 95,055 121,615 120 458 66,573 87,137 84,586 60,978 78,913 77,227 5.595 8,224 7.359 28,482 34,478 35.882 3.115 4,134 4,803 1,176 1,848 1,746 15,431 16.989 29.534 8,760 11,507 -201 -564 -518 1,624 4,324 5,059 4,869 2.723 26,064 5,345 1.149 20,134 -8,791 726 583 -3,043 423 20,717 -5,759 7 -89 -277 416 -20,628 -5,482 211 -1.737 .456 461 447 436 -256 -22,812 -6,374 Future Lease Commitment Due in Year 1 General Electric Company (ticker: GE) Future Lease Commitment Future Lease Future Lease Future Lease Commitment Ceinmitment Commitment Due in Year 2 Due in Year 3 Due in Year 4 Future Lease Commitment Duran Years Future Lease Commitment Due Beyond Years 5316 5652 1970 2833 2982 2020 2019 2018 2017 2451 2625 938 1658 1647 2072 228 776 4 1000 101 TR20 681 6.18 900 578 0