The financial statements of M&S are presented in Appendix E. The company’s complete annual report, including the notes to the financial statements, is available online.

Instructions

Refer to M&S’s financial statements and the accompanying notes to answer the following questions.

a. What descriptions are used by M&S in its statement of financial position to classify its property, plant, and equipment?

b. What method or methods of depreciation does M&S use to depreciate its property, plant, and equipment?

c. Over what estimated useful lives does M&S depreciate its property, plant, and equipment?

d. What amounts for depreciation expense did M&S charge to its income statement in 2017 and 2016?

e. What were the capital expenditures for property, plant, and equipment made by M&S in 2017 and 2016?