Question: Use Starbucks balance sheet dated 10 02 2011 on the opposite page

Use Starbucks’ balance sheet dated 10/02/2011 (on the opposite page) to answer the following questions.
a. How much do customers owe this company? ___________ million
b. For inventories, $965.8 million is the (___________ / current market value / can’t tell).
c. For property, plant, and equipment, net, $2,355.0 million is the (acquisition cost / current market value / ___________ / can’t tell).
d. What amount of investments does this company intend to hold for more than a year? ___________ million
e. (PPE / ___________ / Long-term investments) is created when a company is acquired.
f. How much does this company owe to suppliers? ___________ million
g. Current assets total ___________ million and current liabilities total ___________ million. Current assets are used to pay off (___________ / noncurrent) liabilities. This company has (___________ / insufficient) current assets to pay off its current liabilities.
h. Noncurrent assets total ___________ million and noncurrent liabilities total ___________ million. Noncurrent liabilities are used to finance (current / ___________) assets.
i. Contributed capital represents (amounts borrowed / ___________ / net income earned by the company).
j. This company is relying primarily on (long-term debt / contributed capital / ___________ ___________) to finance assets, which is an (external / ___________) source of financing.
k. The balance sheet reports a company’s financial position (___________ / over a period of time).
l. Assets and liabilities are recorded on the balance sheet in order of (magnitude / alphabetically / ___________), which means that (PPE / ___________) will always be reported before (___________ / cash).
m. U.S. GAAP and IFRS treat (___________ / PPE) essentially the same. However, for (cash / ___________), IFRS allows valuation at fair value, whereas U.S. GAAP requires (___________ / fair value).

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