I need to prepare a multiple-step income statement, a statement of retained earnings, and a classified balance sheet for the year ended December 31, 2002. Here is the information I was provided.
(millions, except per share data) 2002
Accounts payable 619.0
Accounts receivable, net 741.0
Accumulated other comprehensive income
(reduction of owners' equity listed after treasury stock) (853.4)
Capital in excess of par value 49.9
Cash and cash equivalents 100.6
Cash dividends (412.6)
Common stock 103.8
Cost of goods sold 4,569.0
Current maturities of long-term debt 776.4
Income taxes (expense) 423.4
Interest expense 391.2
Inventories 603.2
Long-term debt 4,519.4
Net sales 8,304.1
Notes payable (current liability) 420.9
Other assets (long-term assets) 5,615.7
Other current assets 318.6
Other current liabilities 1,198.6
Other income (expense), net 27.4
Other liabilities (long-term liabilities) 1,789.9
Property, net 2,840.2
Retained earnings, beginning of year 1,564.7
Selling, general, and administrative expense 2,227.0
Treasury stock at cost (reduction of owners’
equity listed after retained earnings) (278.2)