no handwritten please thanks Question 2:A. The following numbers were extracted from a balance sheet (in millions):$547145322Operating assetsFinancial assetsTotal liabilitiesof the total liabilities, $190 million were deemed to be financial liabilities.Required: Prepare a reformulated balance sheet that distinguishes items involved in operationfrom those involved in financing activities.B. An income statement consists of the following line items (in millions):Sales Revenue$4,356Cost of Goods sold3,487Operating expenses428Interest income (revenue)56Interest expense132Assume that the firm pays no taxes.7IRequired: Prepare a reformulated income statement that distinguishes items involved inoperation from those involved in financing activities.L

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Question 2: A. The following numbers were extracted from a balance sheet (in millions): $547 145 322 Operating assets Financial assets Total liabilities Of the total liabilities, $190 million were deemed to be financial liabilities. Required: Prepare a reformulated balance sheet that distinguishes items involved in operation from those involved in financing activities.

Question 2: A. The following numbers were extracted from a balance sheet (in millions): $547 145 322 Operating assets Financial assets Total liabilities Of the total liabilities, $190 million were deemed to be financial liabilities. Required: Prepare a reformulated balance sheet that distinguishes items involved in operation from those involved in financing activities.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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