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what would be Total shareholders equity of Sears had it accrued the same provision for uncollectible accounts as in 1998 Exhibit I Consolidated Financial Statements
what would be Total shareholders equity of Sears had it accrued the same provision for uncollectible accounts as in 1998
Exhibit I Consolidated Financial Statements Income Statement (in millions) 1995 1996 1997 1998 1999 Revenues $31,133 $33,752 $36,649 S36.957 S36,728 Merchandise sales and services 4.618 4.343 4.313 4.925 3.702 Credit revenues 41.575 41,071 34,835 38,064 41,574 Total revenues Expenses Cost of sales, buying and occupancy 23,160 24,889 26985 27,444 27,212 7,428 8059 8,394 8,384 8,418 Selling and administrative 589 971 1,532 1,287 871 Provision for uncollectible accounts 2,605 2,157 2,669 1953 Other 38,658 33.130 35.981 39,580 39,720 Total costs and expenses 1,705 2,083 1,994 1,855 2413 operating income (56) (41) Other income, net 766 912 Income tax provision SI.221 $1,188 $1,048 $1,453 $1,801 Net Income Balance Sheet (in millions) 1995 1996 1997 1998 1999 Assets 606 660 358 495 729 Cash and cash equivalents 20,925 20,104 20,956 18,946 18,793 Credit card receivables Allowance for uncollectible accounts 81 801 1.113 (914) 7602 20,106 19.303 19,843 17,972 18,033 Net credit card receivables 5,729 8,484 10,042 10,804 9,905 Other current assets 5,077 5,878 6,414 6,380 6,450 Property and equipment, net 024 1.837 1,612 1.842 2,043 Other assets S33,130 S36,167 38,700 S37,675 $36,954 Total Assets Liabilities $14.607 $14950 $15.790 S14.222 $13,701 Current liabilities 17387 16,414 Long-term liabilities 14,138 1 17.048 28,745 31,222 32,838 31,609 30,115 Total liabilities 4.385 4,945 5,862 6,066 6,839 Shareholders' equity $33,130 S36,167 $38,700 S37,675 $36,954 Total Liabilities and Equity Source: Sears, Roebuck and Co.'s Annual ReportsStep by Step Solution
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