Floral, Inc., sells electronics and appliances. The excerpts that follow are adapted from Floral€™s financial statements for 2010 and 2009.

Requirements
1. How much was Floral€™s cost of plant assets at February 28, 2010? How much was the book value of plant assets? Show computations.
2. The financial statements give three evidences that Floral purchased plant assets and goodwill during fiscal year 2010. What are they?
3. Prepare T-accounts for Property, Plant, and Equipment; Accumulated Depreciation; and Goodwill. Then show all the activity in these accounts during 2010. Label each increase or decrease and give its dollar amount. During 2010, Floral sold plant assets that had cost the company $76 million (accumulated depreciation on these assets was $60 million). Assume there were no losses on goodwill during2010.

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February 28, 2010 2009 Balance Sheet (dollars in millions) Assets Total current assets Property, plant, and equipment. Less: Accumulated depreciation. Goodwill $7,980 $6,900 2,126 1,726 519 558 Year Ended February 28 2010 2009 Statement of Cash Flows (dollars in millions) Operating activities: Net income $1,146 S 981 Noncash items affecting net income: Depreciation Investing activities: 460 457 Additions to property, plant, and equi (707) (615)