Mgmt_200_Spring_2008_solutions_2-8-08(2,8) - 11,317 Other...

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Management 200 – Introductory Financial Accounting– Spring 2008 Krannert School of Management - Purdue University Solutions to class assignment for February 8, 2008 E5-6. Lance Inc. Consolidated Balance Sheet December 31, Current Year (in millions) Assets CURRENT ASSETS Cash and cash equivalents $ 1,224 Accounts receivable, net 47,188 Inventories 23,205 Prepaid expenses and other 6,550 Other current assets 4,161 Total current assets 82,328 Property, plant and equipment, net 179,283 Goodwill, net 42,069 Other intangible assets, net 10,177 Other assets 3,216 TOTAL ASSETS $317,073 Liabilities and Stockholders’ Equity CURRENT LIABILITIES Accounts payable $ 14,718 Accrued compensation 8,844 Other payables and accrued liabilities 15,439 Current portion of long-term debt 395 Total current liabilities 39,396 NONCURRENT LIABILITIES Long-term debt 63,536 Accrued postretirement health care costs
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Unformatted text preview: 11,317 Other long-term liabilities 28,231 Total noncurrent liabilities 103,084 STOCKHOLDERS' EQUITY Common stock, 28,947,222 outstanding 24,123 Additional paid-in capital 1,229 Retained earnings 149,241 Total stockholders' equity 174,593 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $317,073 2. In each case, the term “net” means that the account is reported after the balance in the related contra account has been subtracted. Accounts receivable, net means that the allowance for doubtful accounts contra account has been subtracted. Goodwill, net and Other intangible assets, net mean that the accumulated amortization contra account has been subtracted. Property, plant and equipment, net means that the accumulated depreciation contra account has been subtracted....
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This note was uploaded on 11/22/2009 for the course MGMT 200 taught by Professor Greigg during the Spring '08 term at Purdue.

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Mgmt_200_Spring_2008_solutions_2-8-08(2,8) - 11,317 Other...

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