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financial statement analysis

Financial Statement Analysis And Valuation 5th Edition Peter D. Easton, Mary Lea McAnally, Gregory A. Sommers - Solutions

Employee stock options potentially dilute earnings per share (EPS). What can companies do to offset these dilutive effects and how might this action affect the balance sheet?
What is the difference between the accounting for a small stock dividend and the accounting for a large stock dividend?
What is a stock dividend? How does a common stock dividend distributed to common stockholders affect their respective ownership interests?
Describe the difference between contributed capital and earned capital. Specifically, how can earned capital be considered as an investment by the company’s stockholders?
What are the basic differences between preferred stock and common stock? That is, what are the typical features of preferred stock?
Analyzing Debt Footnotes Headquartered in Montreal, Canada, Valeant Pharmaceuticals International Inc. is a multinational specialty pharmaceutical company that develops and markets prescription and non-prescription pharmaceuticals, principally in the areas of dermatology and neurology. The company
Analyzing Contingent Liabilities: Warranty Reserves Headquartered in Montreal, Quebec, Canada, Bombardier Inc. is a multinational aerospace and transportation company, founded in 1941. The company manufactures regional aircraft, business jets, mass transportation equipment, and recreational
Analyzing Debt Terms, Yields, Prices, and Credit Ratings Statoil ASA, headquartered in Stavanger, Norway, is a fully integrated petroleum company. The company uses IFRS to prepare its financial statements. Reproduced below is the long-term debt note from its 2015 annual report.Carrying amount in
Interpreting Bond Footnote Disclosures and Computing Effective Interest Rate In October 2012, French real estate company Foncière des Régions issued bonds with a total face value of€500 million. The bond proceeds were €504.087 million. The 2012 annual report has the following note.Foncière
Interpreting a Contingent Liability Footnote BP operates off-shore drilling rigs including rigs in the Gulf of Mexico. On April 20, 2010, explosions and fire on the Deepwater Horizon rig led to the death of 11 crew members and a 200-million-gallon oil spill in the Gulf of Mexico. BP’s 2010 annual
Analyzing Debt Terms, Yields, Prices, and Credit Ratings Reproduced below is the debt footnote from the 2016 10-K report of Oracle Corporation.$ millions May 31, 2016 May 31, 2015 Revolving credit agreements:$3,750, LIBOR plus 0.35%, due June 2016. . . . . . . . . . . . . . . . . . . $ 3,750 $
Interpreting Debt Footnotes on Interest Rates and Interest Expense CVS Health Corporation discloses the following as part of its long-term debt footnote in its 2015 10-K.???????????????????????????????????????? ???????????? ???????????????????????? ????????????????????M????????????????The following
Interpreting and Analyzing Debt Footnotes PepsiCo Inc. reports $32,322 million of long-term debt outstanding as of December 2015 in the following schedule to its 10-K report.Debt Obligations and Commitments$ millions 2015 2014 Short-term debt obligations Current maturities of long-term debt . . . .
Reformulating Financial Statements for Warranty Expense Ford Motor Company reported the following information in its 2016 financial statements. Use these data to answer the requirements.Warranty Liability, 12 Months Ended ($ millions) Dec. 31, 2016 Dec. 31, 2015 Dec. 31, 2014 Beginning balance . .
Applying Time Value of Money Concepts Manchester Corporation takes a 20-year mortgage of $15 million. The annual interest rate on the mortgage is 7% and payments are due at the end of each year.a. Determine the annual mortgage payment.b. Use the financial statement effects template to record the
Applying Time Value of Money Concepts Fulton Corporation purchases new manufacturing facilities and assumes a 10-year mortgage of $4 million.The annual interest rate on the mortgage is 5.5% and payments are due at the end of each year.a. Determine the mortgage payment that Fulton Corporation must
Calculating Ratios and Estimating Credit Rating The following data are from Kellogg’s 10-K report dated January 2, 2016 ($ millions).Revenue . . . . . . . . . . . . . . . . . . . $13,525 Earnings from continuing operations . . . . . $ 614 Interest expense. . . . . . . . . . . . . 227 Capital
Calculating Ratios and Estimating Credit Rating The following data are from Under Armour’s 2015 10-K report ($ thousands).Revenue . . . . . . . . . . . . . . $3,963,313 Earnings from continuing operations . . . . . $ 232,573 Interest expense. . . . . . . . 14,628 Capital expenditures (CAPEX) . .
Analyzing and Reporting Financial Statement Effects of Bond Transactions On January 1, 2017, Sparta Company issued $550,000 of 5-year, 12% bonds for $592,470, yielding a market (yield) rate of 10%. Interest is payable semiannually on June 30 and December 31.a. Confirm the bond issue price.b.
Analyzing and Reporting Financial Statement Effects of Bond Transactions On January 1, 2017, Arbor Corporation issued $800,000 of 20-year, 11% bonds for $739,815, yielding a market (yield) rate of 12%. Interest is payable semiannually on June 30 and December 31.a. Confirm the bond issue price.b.
Computing Present Values of Single Amounts and Annuities Refer to Tables 1 and 2 in Appendix A near the end of the book to compute the present value for each of the following amounts.a. $120,000 received 10 years hence if the annual interest rate is:1. 10% compounded annually.2. 10% compounded
Determining Bond Prices, Interest Rates, and Financial Statement Effects Deere & Company’s 2015 10-K reports the following footnote relating to long-term debt for its equipment operations subsidiary. Deere’s borrowings include $300 million, 7.125% notes, due in 2031 (highlighted
Analyzing and Reporting Financial Statement Effects of Bond Transactions On January 1, 2017, Shields Inc. issued $1,000,000 of 9%, 20-year bonds for $1,098,964, yielding a market(yield) rate of 8%. Semiannual interest is payable on June 30 and December 31 of each year.a. Show computations to
Analyzing and Reporting Financial Statement Effects of Bond Transactions On January 1, 2017, Banek Inc. issued $350,000 of 8%, 9-year bonds for $309,086, which implies a market (yield) rate of 10%. Semiannual interest is payable on June 30 and December 31 of each year.a. Show computations to
Analyzing and Reporting Financial Statement Effects of Bond Transactions Winston Inc. reports financial statements each December 31 and issues $400,000 of 9%, 15-year bonds dated May 1, 2017, with interest payments on October 31 and April 30. Assuming the bonds are sold at par on May 1, 2017,
Assessing the Effects of Bond Credit Rating Changes Ford Motor Co. reports the following information from the Risk Factors and the ????anagement Discussion and Analysis sections of its 2015 10-???? report.Credit Ratings Our short-term and long-term debt is rated by four credit rating agencies
Analyzing and Reporting Financial Statement Effects of Mortgages On ????anuary 1, Patterson Inc. borrowed $1,000,000 on a 10%, 15-year mortgage note payable. The note is to be repaid in equal semiannual installments of $65,051 (payable on ????une 30 and December 31). Each mortgage payment includes
Analyzing and Reporting Financial Statement Effects of Bond Transactions On ????anuary 1, Remington Corp. issued $500,000 of 15-year, 10% bonds payable for $5????6,460 yielding an effective interest rate of ????%. Interest is payable semiannually on ????une 30 and December 31.a. Show computations
Reformulating Financial Statements For Warranty Expense Income statement data for Whirlpool Industries from the company’s 2016 financial statements follow. Use these data to reformulate the income statement for 2014, 2015, and 2016 under the assumption that warranty expense is a constant
Analyzing and Computing Accrued Wages Liability and Expense Demski Company pays its employees on the 1st and 15th of each month. It is ????arch 31 and Demski is preparing financial statements for this quarter. Its employees have earned $96,000 since the 15th of ????arch and have not yet been paid.
Recording and Analyzing Warranty Accrual and Payment Refer to the discussion of and excerpt from the Harley-Davidson Inc. warranty reserve on page 7-6 to answer the following questions.a. Using the financial statement effects template, record separately the 2015 warranty liability transactions
Analyzing Contingent and Other Liabilities The following independent situations represent various types of liabilities. Analyze each situation and indicate which of the following is the proper accounting treatment for the company: (a) record a liability on the balance sheet, (b) disclose the
Analyzing and Computing Accrued Warranty Liability and Expense Canton Company sells a motor that carries a 60-day unconditional warranty against product failure. From prior years’ experience, Canton estimates that 3% of units sold each period will require repair at an average cost of $160 per
Reformulating Financial Statements For Warranty Expense Over the past four years, Hashwari Corporation reported sales revenue and warranty expense as follows.2014 2015 2016 2017 Sales revenue. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $5,000,000 $5,200,000 $5,382,000 $5,704,920
Calculating Gains and Losses on Early Retirement of Debt The data below pertain to bonds outstanding at 2016 year end. For each of the following outstanding bonds, determine whether the company would record a gain or a loss if it decided to retire the bonds at the end of fiscal 2016.Face Value
Applying Time Value of Money Concepts Ozona Minerals issued bonds that mature in 10 years. As is typical for bonds, Ozona Minerals must pay interest only on the $250 million face value. As part of the bond indenture, Ozona Minerals must make annual payments to a sinking fund, which is a pool of
Applying Time Value of Money Concepts Complete the missing information in the table below. Assume that all bonds pay interest semiannually.Annual Yield Years to Maturity Coupon Rate Face Value Issue Proceeds Firm 1 . . . . . . . . . 8.00% 15 7.00% $ 300,000 ?Firm 2 . . . . . . . . . 3.00% 10 0.00%
Determining Credit Ratings The chart below shows financial ratios for three companies. Use the data, along with Exhibit 7.6 to determine a bond rating for each of the three companies below.EBITA/Average Assets Operating Margin EBITA Margin EBITA/Interest Expense(FFO +Int Exp)/Int Exp Debt/EBITDA
Computing Bond Issue Price and Preparing an Amortization Table in Excel On January 1, 2017, Springfield Inc. issues $400,000 of 8% bonds that pay interest semiannually and mature in 10 years (December 31, 2026).a. Using the Excel PRICE function, compute the issue price assuming that the bonds’
Determining the Financial Statement Effects of Accounts Payable Transactions Hobson Company had the following transactions relating to its accounts payable.a. Purchases $1,260 of inventory on credit.b. Sells inventory for $1,650 on credit.c. Records $1,260 cost of sales for transaction b.d.
Computing Issue Price for Zero Coupon Bonds Underwood Inc. issues $350,000 of zero coupon bonds that mature in 10 years. Compute the bond issue price assuming that the bonds’ market rate is:a. 8% per year compounded semiannually.b. 10% per year compounded semiannually.
Computing Bond Issue Price Abbington Inc. issues $700,000 of 9% bonds that pay interest semiannually and mature in 10 years. Compute the bond issue price assuming that the prevailing market rate of interest is:a. 8% per year compounded semiannually.b. 10% per year compounded semiannually.
Interpreting Credit Ratings Cummins Inc. reports the following information in the Management Discussion & Analysis section of its 2015 10-K report.Credit Ratings Our ratings and outlook from each of the credit rating agencies as of the date of filing are shown in the table below.Credit Rating
Analyzing and Computing Accrued Interest on Notes Compute any interest accrued for each of the following notes payable owed by Penman Inc. as of December 31, 2017 (assume a 365-day year).Lender Issuance Date Principal Coupon Rate (%) Term Nissim. . . . . . 11/21/2017 $30,000 10% 120 days Klein . .
Analyzing Financial Statement Effects of Bond Redemption Camden Inc. issued $450,000 of 8%, 15-year bonds at 96 on July 1, 2012. Interest is payable semiannually on December 31 and June 30. Through June 30, 2014, Camden amortized $6,000 of the bond discount. On July 1, 2017, Camden retired the
Analyzing Financial Statement Effects of Bond Redemption Weiss Corporation issued $600,000 of 10%, 20-year bonds at 106 on January 1, 2012. Interest is payable semiannually on June 30 and December 31. Through January 1, 2017, Weiss amortized $10,000 of the bond premium. On January 1, 2017, Weiss
Interpreting Bond Footnote Disclosures Comcast Corporation reports the following information from the Management Discussion and Analysis section of its 2012 10-K.We, NBCUniversal and CCCL Parent are subject to the covenants and restrictions set forth in the indentures governing our public debt
Classifying Liability-Related Accounts into Balance Sheet or Income Statement Indicate the proper financial statement classification (balance sheet or income statement) for each of the following liability-related accounts.a. Gain on Bond Retiremente. Bond Interest Expenseb. Discount on Bonds
Interpreting Bond Footnote Disclosures Bristol-Myers Squibb Co. reports the following long-term debt as part of its MD&A in its 2015 10-K.($ millions)Maturity Date Obligations Expiring by Period Total 2016 2017 2018 2019 2020 Later Years Long-term debt . . . . $14,972 $1,761 $1,647 $724 $1,081 $506
Determining Gain or Loss on Bond Redemption On April 30, one year before maturity, Middleton Company retired $200,000 of its 9% bonds payable at the current market price of 101 (101% of the bond face amount, or $200,000 ???? 1.01???? $202,000). The bond book value on April 30 is $196,600,
Interpreting Relations among Bond Price, Coupon, Yield, and Credit Rating The following appeared in Yahoo! Finance (finance.yahoo.com) regarding outstanding bonds issued by Citigroup Inc.Price Coupon (%) Maturity Yield to Maturity (%) Fitch Ratings 129.87 6.625 2028 3.725 A 114.41 4.950 2043 4.095
Analyzing and Determining Liability Amounts For each of the following situations, indicate the liability amount, if any, that is reported on the balance sheet of Bloomington Inc. at December 31, 2016.a. Bloomington owes $220,000 at year-end 2016 for inventory purchases.b. Bloomington agreed to
Analyzing and Computing Financial Statement Effects of Interest Leahy Inc. signed a 90-day, 8% note payable for $13,800 on December 16. Use the financial statement effects template to illustrate the year-end December 31 accounting adjustment Leahy must make.
Interpreting a Contingent Liability Footnote NCI Building Systems reports the following footnote to one of its recent 10-Ks related to its manufacturing of metal coil coatings and metal building components.We have discovered the existence of trichloroethylene in the ground water at our Southlake,
What is the difference between a bond’s coupon rate and its market interest rate (yield)?
D6-49. Managing Operating Asset Reduction Return on net operating assets (RNOA ???? NOPAT/Average NOA, see Module 4) is commonly used to evaluate financial performance. If managers cannot increase NOPAT, they can still increase this return by reducing the amount of net operating assets (NOA). List
Analyzing and Interpreting Operating Asset Ratios Canadian Tire Corporation, Limited operates retail stores in Canada that sell general merchandise, clothing, and sporting goods. The company offers everyday products and services to Canadians through more than 1,700 retail and gasoline outlets from
Estimating Useful Life, Percent Used Up, and Gain or Loss on Disposal Husky Energy is one of Canada’s largest integrated energy companies. Based in Calgary, Alberta, Husky is publicly traded on the Toronto Stock Exchange. The Company operates in Western and Atlantic Canada, the United States and
Computing and Evaluating Inventory Turnover for Two Companies European car makers, Volkswagen Group (headquartered in Wolfsburg, Germany) and Daimler AG(headquartered in Stuttgart, Germany) report the following information.Euros in millions Volkswagen Daimler Sales Cost of Goods Sold Inventories
Reformulating Balance Sheet and Income Statement Items for Restructuring Intel Corporation reported the following information pertaining to its recent restructuring program.Use this information to answer the requirements.$ millions Dec. 27, 2014 Dec 26, 2015 Dec 31, 2016 Employee severance and
Analyzing and Interpreting Restructuring Costs and Effects Hewlett-Packard Inc. reports the following footnote disclosure (excerpted) in its 2015 10-K relating to its restructuring program.Fiscal 2015 Restructuring Plan In connection with the Separation, on September 14, 2015, HP’s Board of
Interpreting and Applying Disclosures on Property and Equipment Following are selected disclosures from the 10-K report of Facebook Inc.Property and Equipment, Net$ millions 2015 2014 Land . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 596 $ 153 Buildings. . . . .
Estimating Useful Life and Percent Used Up The property and equipment section of the Abbott Laboratories 2015 balance sheet follows.Property and equipment, at cost ($ millions)December 31 2015 2014 2013 Land . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 432 $
Analyzing and Interpreting Inventories and Converting LIFO to FIFO for Ratio Calculation The current asset section from The Dow Chemical Company’s 2015 annual report follows.December 31 ($ millions) 2015 2014 Cash and cash equivalents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Evaluating Turnover Ratios Across Industries The table that follows reports balance sheet and income statement information for Nike, Best Buy, Johnson& Johnson, and Boeing from their year-end 2015 SEC filings.$ millions Sales Cost of Goods Sold Inventory, 2015 Inventory, 2014 PPE, Net Nike . . . .
Computing Asset Related Ratios Dick’s Sporting Goods included the following information in its year-end 2015 10-K.Sales. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $7,270,965 PPE, gross . . . . . . . . . . . . .
Computing and Assessing Plant Asset Impairment On July 1, Arcola Company purchases equipment for $330,000. The equipment has an estimated useful life of 10 years and expected salvage value of $40,000. The company uses straight-line depreciation. Four years later, economic factors cause the fair
Computing and Evaluating Inventory and PPE Turnovers Intel Corporation reports the following financial statement amounts in its 2015 10-K report.$ millions Sales Cost of Goods Sold Inventories Plant, Property, and Equipment, Net 2013 . . . . . . . . . . . . . . . . . . $52,708 $21,187 $4,172
Estimating Useful Life and Percent Used Up The property and equipment footnote from the Deere & Company Equipment and Operations segment follows.Property and Depreciation A summary of property and equipment at October 31 follows.Property and Equipment ($ millions)Useful Lives*(Years) 2015 2014 Land
Reformulating Balance Sheet and Income Statement for an Asset Disposal On its 2016 income statement, Singh Corporation reported a gain of $75 million on disposal of manufacturing machinery that the company had used for the prior five years. For an accurate year by year assessment, we want to
Computing Depreciation, Net Book Value, and Gain or Loss on Asset Sale Lynch Company owns and operates a delivery van that originally cost $46,400. Lynch has recorded straight-line depreciation on the van for four years, calculated assuming a $5,000 expected salvage value at the end of its
Computing Straight-Line and Double-Declining-Balance Depreciation On January 2, 2016, Fischer Company purchases a machine that manufactures a part for one of its key products.The machine cost $264,600 and is estimated to have a useful life of six years, with an expected salvage value of $22,500.
Computing Depreciation, Net Book Value, and Gain or Loss on Asset Sale Zimmer Company owns an executive plane that originally cost $1,280,000. It has recorded straight-line depreciation on the plane for seven full years, calculated assuming an $160,000 expected salvage value at the end of its
Computing Straight-Line and Double-Declining-Balance Depreciation On January 2, Reed Company purchases a laser cutting machine for use in fabrication of a part for one of its key products. The machine cost $75,000, and its estimated useful life is five years, after which the expected salvage value
Calculating Inventory Ratios for LIFO versus FIFO Refer to the information for Phillips 66 in E6-29 along with the following information ($ millions).2015 Assets 2016 Revenue 2015 Inventories 2016 Cost of Goods Sold 2016 Net Income???????????????????????????? ????????????????????????????
Reformulating Balance Sheet and Income Statement Items for LIFO to FIFO In its December 2016 10-K, Phillips 66 reported the following information ($ millions).2016 Assets 2016 Inventories 2016 LIFO Reserve 2016 Increase in LIFO Reserve Tax Rate???????????????????????????? ????????????????????????
Analyzing an Inventory Footnote Disclosure The inventory footnote from Deere & Company’s 2015 10-K follows.Inventories Most inventories owned by Deere & Company and its U.S. equipment subsidiaries are valued at cost, on the “last-in, first-out” (LIFO) basis. Remaining inventories are
Computing Cost of Sales and Ending Inventory Howell Company has the following financial records for the current period.Units Unit Cost Beginning inventory . . . . . . 150 $100 Purchases: #1. . . . . . . . . . . 600 96#2. . . . . . . . . . . 500 92#3. . . . . . . . . . . 250 90 Ending inventory is
Analyzing an Inventory Footnote Disclosure General Electric Company reports the following footnote in its 10-K report. The company reports its inventories using the LIFO inventory costing method.December 31 ($ millions) 2015 2014 Raw materials and work in process . . . . . $13,415 $ 9,963 Finished
Applying and Analyzing Inventory Costing Methods At the beginning of the current period, Chen carried 1,000 units of its product with a unit cost of $32. A summary of purchases during the current period follows.Units Unit Cost Cost Beginning Inventory . . . . . . 1,000 $32 $32,000 Purchases: #1. .
Lower of Cost or Market Adjustment Marathon Petroleum Corporation disclosed the following in its 2015 annual report. The company reported revenues and cost of revenues of $72,051 million and $55,583 million respectively in 2015.Inventories are stated at the lower of cost or market. Costs of crude
Reformulating Balance Sheet and Income Statement for an Asset Disposal In 2015, Winnebago Industries recorded an impairment loss of $462,000 on its corporate plane. We wish to reformulate the company’s income statement and balance sheet under the assumption that the plane had been used for the
Interpreting an Asset Impairment In 2015, Winnebago Industries recorded an impairment loss of $462,000 on its corporate plane. Assume that the plane originally cost the company $2,350,000 and had accumulated depreciation of $1,598,000 at the time of the impairment charge.a. Why did the company
Using Inventory Analysis Tools AutoZone and O’Reilly are two competitors in the retail automotive parts industry.$ thousands AutoZone O’Reilly Average 2015 Inventory . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 3,280,868 $2,592,902 2015 Sales . . . . . . . . . . . .
Computing Cash Conversion Cycle for Two Years Winnebago Industries has the following metrics for 2015 and 2014.Amounts in days 2015 2014 Days sales outstanding . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.5 19.1 Days inventory outstanding . . . . .
Computing and Comparing PPE Turnover for Two Companies Texas Instruments Inc. and Intel Corporation report the following information.$ millions Intel Corporation Texas Instruments Sales Plant, Property and Equipment, net Sales Plant, Property and Equipment, net 2015 . . . . . . . . . . $55,355
Computing Depreciation Under Straight-Line and Double-Declining-Balance for Partial Years A company with a calendar year-end, purchases a machine costing $129,000 on July 1, 2016. The machine is expected to be obsolete after five years (60 months) and, thereafter, no longer useful to the
Computing Depreciation Under Straight-Line and Double-Declining-Balance A delivery van costing $37,000 is expected to have a $2,900 salvage value at the end of its useful life of five years. Assume that the truck was purchased on January 1. Compute the depreciation expense for the first two
Reformulating Balance Sheet and Income Statement Items for LIFO to FIFO In its December 2016 10-K, LyondellBasell Industries reported the following information ($ millions).Cost of Goods Sold Inventories LIFO Reserve Increase in LIFO Reserve Total Assets Net Income$????????,1????7 $3,809 $????99
Computing and Evaluating Inventory Turnover for Two Companies Abercrombie & Fitch Co. (ANF) and TJX Companies Inc. (TJX) report the following information in their respective January 2016 10-K reports relating to their 2015 and 2014 fiscal years.$ millions Abercrombie & Fitch TJX Companies Sales
Computing Cost of Goods Sold and Ending Inventory Under FIFO, LIFO, and Average Cost Wong Corporation reports the following beginning inventory and inventory purchases.Inventory balance at beginning of year . . . . . . . . . . . . . . . . . . ????00 units @ $1???? each $ ????,800 Inventory
Computing Cost of Goods Sold and Ending Inventory Under FIFO, LIFO, and Average Cost Assume that Madden Company reports the following initial balance and subsequent purchase of inventory.Inventory balance at beginning of year . . . . . . . . . . . . . . . . 1,300 units @ $150 each $195,000
Identify the three typical categories of restructuring costs and their effects on the balance sheet and the income statement.
What factors determine the gain or loss on the sale of a PPE asset?Q6-10 What is a LIFO reserve? What information can we learn from the LIFO reserve and from the change in the reserve during the year?Q6-11 Explain the concept of lower of cost or market. What benefit does the LCM rule create for
What does the cash conversion cycle measure?
In a recent annual report, Kaiser Aluminum Corporation made the following statement in reference to its inventories: “The Company recorded pretax charges of approximately $19.4 million because of a reduction in the carrying values of its inventories caused principally by prevailing lower prices
Identifying Operating Income Components Headquartered in Ottawa, Ontario, Canada, Mitel Networks Corporation is a high-tech company that provides unified communications solutions for business. The company focuses almost entirely on Voiceover-IP (VoIP) products. Mitel has partners and resellers
Analyzing Unearned Revenue Transactions and Multiple-Element Arrangements Telstra Corporation Limited is an Australian telecommunications and technology company that offers a full range of communications services in all telecommunications markets. In Australia, Telstra provides 17.2 million mobile
Reformulating Allowance for Doubtful Accounts Community Health Systems operates hospitals and other medical facilities across the U.S. The company reported the following in its 2016 financial statements.Substantially all of our accounts receivable are related to providing healthcare services to
Reformulating Allowance for Doubtful Accounts and Bad Debt Expense Merck & Company reported the following from its 2016 financial statements.$ millions 2013 2014 2015 2016 Accounts receivable, net . . . . . . . . . . . . . . . . . . . . . . . . $7,184 $6,626 $6,484 $7,018 Allowance for doubtful

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