Balance sheet formats The following information is based on the balance sheet of Aracruz Celulose, a Brazilian manufacturer of bleached pulp used to make paper, for the year ended December 31, 2006. Aracruz Celulose applies U.S. GAAP and reports results in thousands of U.S dollars:

a. Prepare a balance sheet for Aracruz Celulose assuming the firm follows U.S GAAP.
b. Prepare a balance sheet for Aracruz Celulose assuming the firm follows IFRS.

S 202,704 Inventories.... Other Current Assets. 132,782 350,761 Other Long-Term Liabilities.. Property, Plant, and Equipment, net Retained Earnings.... Cash and Short-Term Investments 2,151,212 1,293,301 579,643 Goodwill . 129,035 Common Stock (no par). Preferred Stock... 295,501 614,496 Other Noncurrent Assets 451,757 Current Liabilities .. 286,819 Long-Term Debt.... 1,155,050 Accounts Receivable 285,795