Question: Discontinued operations Selected information from Bayer Groups financial statements for the years ended December 31, 2006 and 2007, appear below. Bayer Group (Bayer) is a

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 from Continuing Operations (after taves) Income from Discontinued Operations (after taxes) Assets Held for Discontinued Operations......... Total Assets... 1,526 ... 2,410 169 84 2,925 51,378 55,891 ....

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