Selected income statement information $(\backslash$$ millions$)$

Selected notes:

Note B$.$ Receivables

Receivables are reported net of allowances for credit losses of $\backslash (\backslash$$ $342\backslash )$ million and $\backslash (\backslash$$ $333\backslash )$ million in $2022$ and $2021$ respectively. The provision for credit losses, included in Selling, general and administrative expenses, was $\backslash (\backslash$$ $58\backslash )$ million in $2022$ and $\backslash (\backslash$$ $68\backslash )$ million in $2021.$

Note C$.$ Inventories

We state inventories at the lower of cost or net realizable value. We principally determine cost using the last$-$in$,$ first$-$out $($LIFO$)$ method. The value of inventories on the LIFO basis represented about $65$ percent and $60$ percent of total inventories at December $31,2022$ and $2021,$ respectively. If the FIFO $($first$-$in$,$ firstout$)$ method had been in use, inventories would have been $\backslash (\backslash$$ $3,321\backslash )$ million and $\backslash (\backslash$$ $2,599\backslash )$ million higher than reported at December $31,2022$ and $2021,$ respectively.

Note D$.$ Property, plant and equipment

We compute depreciation of plant and equipment principally using accelerated methods. We compute depreciation on equipment leased to others using the straight$-$line method over the term of the lease. The depreciable basis is the original cost of the equipment less the estimated residual value of the equipment at the end of the lease term. In $2022$ and $2021,$ consolidated depreciation expense was $\backslash (\backslash$$ $1,937\backslash )$ million and $\backslash (\backslash$$ $2,050\backslash )$ million, respectively. Required:

$1.$ Note that CAT has receivables listed as current assets and as noncurrent assets. Compute the amount of cash CAT collected from customers in $2022.$ Be sure to take into account its credit losses.

$2.$ CAT uses LIFO. What amount of profit before income taxes would have been reported in $2022$ if CAT used FIFO to value its inventories?

$3.$ Compute the inventory turnover in days for $2022$ assuming CAT had used FIFO to value its inventories.

$4.$ During $2022,$ CAT sold property, plant and equipment for $\backslash (\backslash$$ $830\backslash )$ million in cash. The PP$\backslash$&E had an original cost of $\backslash (\backslash$$ $3,406\backslash )$ million. Calculate the gain or loss on the sale of this PP$\backslash$&E$.$

$5.$ CAT reported no asset impairments in $2022.$ What amount of PP$\backslash$&E did CAT purchase in $2022?$

$6.$ Calculate the percent depreciated ratio for CAT at the end of $2022.$

$7.$ In early $2020,$ CAT issued $\backslash (\backslash$$ $500\backslash )$ million of $10-$year, $\backslash (1\mathrm{.}9\backslash \%\backslash )$ bonds with a yield of $\backslash (2\backslash \%\backslash ).$ The bonds pay interest semi$-$annually. Were these bonds issued at a discount or a premium?

$8.$ Calculate the interest expense that CAT reported in $2022$ on the bonds described in question $7.$ Round your answer to the nearest thousand dollars.

$9.$ Note that CAT reports a liability for dividends payable in its balance sheet. Calculate the amount of dividends CAT paid in cash in $2022.$

$10.$ CAT has a restricted stock compensation plan. During $2022,$ CAT purchased treasury stock costing $\backslash (\backslash$$ $4,230\backslash )$ million for future restricted stock grants. When the restricted stock is granted to employees, it is recorded as unearned compensation. What amount of unearned compensation did CAT record in $2022?$