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SHARE HOLERS' EQUIT Y Balance, end of fiscal year 2011 1,430 Share issues 822 Repurchase of 24 million shares (720) Cash dividend (180) Unrealized gain
SHARE HOLERS' EQUITY
Balance, end of fiscal year 2011 | 1,430 |
Share issues | 822 |
Repurchase of 24 million shares | (720) |
Cash dividend | (180) |
Unrealized gain on debt investments | 50 |
Net Income | 468 |
Balance, end of fiscal year 2012 | 1,870 |
2012 | 2011 | 2012 | 2011 | |||
operating cash | 60 | 50 | accounts payable | 1,200 | 1,040 | |
short term investments(mkt) | 550 | 500 | accrued liabilities | 390 | 450 | |
accounts receivable | 940 | 790 | long-term debt | 1,840 | 1,970 | |
inventory | 910 | 840 | common equity | 1,870 | 1,430 | |
property and plant | 2,840 | 2710 | ||||
= | 5,300 | 4,890 | 5,300 | 4,890 | ||
BALANCE SHEET ABOVE
The firms income tax rate is 35%. The firm reported $15 million in interest income and $98 million in interest expense for 2012. Sales revenue was $3,726 million. A). Reformulate the balance sheet for 2012 in a way that distinguishes operating and financing activities. Also reformulate the equity statement. B). Prepare a reformulated statement of comprehensive income.
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