Following are the financial statements of Snap-On Inc. for the year ended December 31,2016. Proses a forecasted
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To forecast the financial statements, make the following assumptions. For accounts that are not included in the list below, assume that the amount will not change for the forecasted year.
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14. Following are the financial statements of Snap-On Inc. for the year ended December 31, 2016. Prepare a forecasted income statement and balance sheet for the company for the next year. (in millions) Cash and cash equivalents Trade and other accounts receivable-net Finance receivables-net Contract receivables-net Inventories, net Prepaid expenses and other assets Total current assets Property and equipment, net Deferred income tax assets Long-term finance receivables-net Long-term contract receivables-net Goodwill Other intangibles, net Other assets SNAP-ON INCORPORATED Consolidated Balance Sheets Total assets Notes payable and current maturities of LT debt Accounts payable Accrued benefits Accrued compensation Franchise deposits Other accrued Sabilities Total current liabilities Long-term debt Deferred income tax liabilities Retiree health care benefits Pension fiabilities Other long-term liabilities Total liabilities Shareholders' equity attributable to Snap-On Inc. Common stock Additional paid-in capital Retained earnings Accumulated other comprehensive loss Treasury stock at cost Total shareholders' equity attributable to Snap-On Inc. Noncontrolling interests Total shareholders' equity Total liabilities and shareholders' equity 2016 $77.6 598.8 472.5 88.1 530,5 116.5 1,884,0 425.2 72.8 934,5 286.7 895.5 184.6 39.9 $4,723.2 $ 301,4 170.9 52.8 89.8 66,7 307.9 989.5 708.8 13.1 36.7 246.5 93.4 2,088.0 674 317.3 3,384.9 (498.5) (653.9) 2.617.2 18.0 $ 92.8 562.5 447.3 82.1 497.8 106.3 2015 1,788,8 413.5 60,4 772.7 266.6 7.90.1 195.0 44.0 $4,331.1 $18.4 148.3 52.1 91.0 64,4 296.0 670.2 861.7 14.3 37.9 227.8 88.5 1,900.4 67.4 296.3 2,986.9 (364.2) (573.7) 2.412.7 18.0 2.635.2 2,430.7 $4,723.2 $4.331.1 14. Following are the financial statements of Snap-On Inc. for the year ended December 31, 2016. Prepare a forecasted income statement and balance sheet for the company for the next year. (in millions) Cash and cash equivalents Trade and other accounts receivable-net Finance receivables-net Contract receivables-net Inventories, net Prepaid expenses and other assets Total current assets Property and equipment, net Deferred income tax assets Long-term finance receivables-net Long-term contract receivables-net Goodwill Other intangibles, net Other assets SNAP-ON INCORPORATED Consolidated Balance Sheets Total assets Notes payable and current maturities of LT debt Accounts payable Accrued benefits Accrued compensation Franchise deposits Other accrued Sabilities Total current liabilities Long-term debt Deferred income tax liabilities Retiree health care benefits Pension fiabilities Other long-term liabilities Total liabilities Shareholders' equity attributable to Snap-On Inc. Common stock Additional paid-in capital Retained earnings Accumulated other comprehensive loss Treasury stock at cost Total shareholders' equity attributable to Snap-On Inc. Noncontrolling interests Total shareholders' equity Total liabilities and shareholders' equity 2016 $77.6 598.8 472.5 88.1 530,5 116.5 1,884,0 425.2 72.8 934,5 286.7 895.5 184.6 39.9 $4,723.2 $ 301,4 170.9 52.8 89.8 66,7 307.9 989.5 708.8 13.1 36.7 246.5 93.4 2,088.0 674 317.3 3,384.9 (498.5) (653.9) 2.617.2 18.0 $ 92.8 562.5 447.3 82.1 497.8 106.3 2015 1,788,8 413.5 60,4 772.7 266.6 7.90.1 195.0 44.0 $4,331.1 $18.4 148.3 52.1 91.0 64,4 296.0 670.2 861.7 14.3 37.9 227.8 88.5 1,900.4 67.4 296.3 2,986.9 (364.2) (573.7) 2.412.7 18.0 2.635.2 2,430.7 $4,723.2 $4.331.1
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SNAPON INCORPORATED Consolidated Statement of Earnings Forecasted For the Fiscal Year 2017 in millio... View the full answer
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Accounting Principles
ISBN: 978-1119048473
7th Canadian Edition Volume 2
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
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