You are considering investing in Eli Lilly, a major pharmaceutical company. As part of your investigation of Lilly, you obtained the following balance sheets for the years ended December 31, 2008 and 2007 (dollars in millions):

REQUIRED:a. Compute the dollar change in each account from 2007 to 2008. Also compute the percentage change in each account from 2007 to 2008.b. Convert the balance sheet to common-size balance sheets. Also compute the percentage change in the common-size numbers of each account from 2007 to 2008.c. Does the information in (b) provide any additional data to that in (a)?Explain.

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2008 2007 Assets Current assets: 5 5,497 429 S 3,221 1,611 2,674 Cash Short-term marketable securities Accounts receivable 2,779 2,493 1,255 S12,453 8,626 8,134 S29.213 2,524 2.286 S12316 8,575 5,984 S26,875 Inventory Other current assets Total current assets Property, plant, and equipment Other assets Total assets Liabilities and Shareholders' Equity Current liabilities: Short-term borrowings Accounts payable Wages payable Dividends payable Income taxes payable Other current liabilities 5 5,846 S 414 924 886 771 824 537 514 229 238 4,841 S13,110 2,523 S 5,437 7,934 1,697 Total current liabilities Long-term debt Contributed capital* Retained earnings Total liabilities and shareholders' equity 9,368 (902) 7.655 11,807 S29.213 $26,875 *Net. including treasury stock and other adjustments.