Answered Essay: PROBLEMS 1. Selected balance sheet amounts for Harley Davidson Inc. for five recent years follow. Total Current Long-term Total Curren

PROBLEMS 1. Selected balance sheet amounts for Harley Davidson Inc. for five recent years follow. Total Current Long-term Total Current Long-term (S millions)AssetsAssetsAssets Liabilities Liabilities Liabilities Equity 2012 4,050.9 9,170.8 5,110.06,613.1 2,557.7 3,988.8 5,416.2 2,509.5 3,8860 6,395.5 2,909.3 5580.0 9,528. 2,389.3 4229.5 2014 2015 3,977.9 5,995.1 2016 2,747.3 5386.0 8,133.3 1920.2 6,0364 9,890.2 2862.5 5.107.5 Compute the missing balance sheet amounts for each of the five years. (5 points total) 2. Income statements and balance sheets follow for E.I. DuPont de Nemours and Company. Refer to these financial statements to answer the requirements. E. I. du Pont de Nemours and Company Consolidated Income Statements For The Year Ended December 31 (S millions) 2016 2015 $ 25,130 15,571 4,615 1,898 (697) 342 $ 24,594 Net sales Cost of goods sold and other operating charges Selling, general and administrative expenses Research and development expense Other (income) expense, net Interest expense Employee separation/asset related charges(income) 15,155 4,319 1,641 (708) 370 net Income from continuing operations before income taxes Provision for income taxes on continuing operations Income from continuing operations after income taxes 552 3,265 744 2,521 810 2,591 696 1.895 Income from discontinued operations after income 64 taxes Net income Less: Net income attributable to no controlling interests Net income attributable to DuPont 2,525 1,959 $2,513 S 1.953

PROBLEMS 1. Selected balance sheet amounts for Harley Davidson Inc. for five recent years follow. Total Current Long-term Total Current Long-term (S millions)AssetsAssetsAssets Liabilities Liabilities Liabilities Equity 2012 4,050.9 9,170.8 5,110.06,613.1 2,557.7 3,988.8 5,416.2 2,509.5 3,8860 6,395.5 2,909.3 5580.0 9,528. 2,389.3 4229.5 2014 2015 3,977.9 5,995.1 2016 2,747.3 5386.0 8,133.3 1920.2 6,0364 9,890.2 2862.5 5.107.5 Compute the missing balance sheet amounts for each of the five years. (5 points total) 2. Income statements and balance sheets follow for E.I. DuPont de Nemours and Company. Refer to these financial statements to answer the requirements. E. I. du Pont de Nemours and Company Consolidated Income Statements For The Year Ended December 31 (S millions) 2016 2015 $ 25,130 15,571 4,615 1,898 (697) 342 $ 24,594 Net sales Cost of goods sold and other operating charges Selling, general and administrative expenses Research and development expense Other (income) expense, net Interest expense Employee separation/asset related charges(income) 15,155 4,319 1,641 (708) 370 net Income from continuing operations before income taxes Provision for income taxes on continuing operations Income from continuing operations after income taxes 552 3,265 744 2,521 810 2,591 696 1.895 Income from discontinued operations after income 64 taxes Net income Less: Net income attributable to no controlling interests Net income attributable to DuPont 2,525 1,959 $2,513 S 1.953

Expert Answer

 

Answer to the 1st problem:

2012

Long term assets = Total Assets – Current Assets

………………………..= $9,170.8 – $4,050.9

………………………..= $5,119.9

Current Laibilities = Total Liabilities – Long term liabilities

………………………..= $6,613.1 – $5,110

………………………..= $1,503.1

2013

Total Assets = Long term assets + Current Assets

………………..= $3,988.8 + $5,416.2

………………..= $9,405

Equity = Total Assets – Total Liabilities

………..= $9,405 – $6,395.5

………..= $3,009.5

2014

Current Assets = Total Assets – Long term assets

…………………….= $9,528.1 – $5.580

…………………….= $3,948.1

Total Liabilities = Current Liabilities + Long term liabilities

…………………….= $2,389.3 + $4,229.5

…………………….= $6,618.8

2015

Total Assets = Long term assets + Current Assets

………………..= $3,977.9 + $5,995.1

………………..= $9,973

Equity = Total Assets – Total Liabilities

………..= $9,973 – $8,133.3

………..= $1,839.7

2016

Current Assets = Total Assets – Long term assets

…………………….= $9,890.2 – $6,036.4

…………………….= $3,853.8

Total Liabilities = Current Liabilities + Long term liabilities

…………………….= $2,862.5 + $5,107.5

…………………….= $7,970

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