Discontinued operations Selected information from Bayer Groups financial statements for the years ended December 31, 2006 and

Question:

Discontinued operations Selected information from Bayer Group€™s for the years ended December 31, 2006 and 2007, appear below. Bayer Group (Bayer) is a German pharmaceutical company that applies IFRS and reports its results in millions of euros (‚¬).
a. What portion of Bayer€™s total net income in 2007 came from discontinued operations? Ho does this compare to 2006?
b. What portion of Bayer€™s total assets in 2007 is associated with discontinued operations? How does this compare to 2006?
c. What explains the large decline in Bayer€™s assets held for discontinued operations in2007?

Bayer Group Balance Sheet and Income Statement Data December 31, 2006 and 2007 December 31 2007 2006 € 2,306 Income fr

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...