The following information came from a recent balance sheet of The Coca Cola, Co. End of Year Beginning of Year Assets $ 87.9 billion $ 87.3 billion Liabilities $ 68.9 billion ? Owners' Equity ? $ 23.2 billion a. Determine the amount of total liabilities reported in Coca-Cola’s balance sheet at the beginning of the year. b. Determine the amount of total owners’ equity reported in Coca-Cola’s balance sheet at the end of the year. c. Retained earnings was reported in Coca-Cola’s year-end balance sheet at $60.4 billion. If retained earnings was $65.5 billion at the beginning of the year, determine net income for the year if a $6.3 billion dividend was declared during the year. (Enter your answers in billions of dollars rounded to 1 decimal place.)
The following information came from a recent balance sheet of The Coca Cola, Co. End of Year Beginning of Year Assets $ 87.9 billion $ 87.3 billion Liabilities $ 68.9 billion ? Owners' Equity ? $ 23.2 billion a. Determine the amount of total liabilities reported in Coca-Cola’s balance sheet at the beginning of the year. b. Determine the amount of total owners’ equity reported in Coca-Cola’s balance sheet at the end of the year. c. Retained earnings was reported in Coca-Cola’s year-end balance sheet at $60.4 billion. If retained earnings was $65.5 billion at the beginning of the year, determine net income for the year if a $6.3 billion dividend was declared during the year. (Enter your answers in billions of dollars rounded to 1 decimal place.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The following information came from a recent
| End of Year | Beginning of Year | |||||||||
| Assets | $ | 87.9 | billion | $ | 87.3 | billion | ||||
| Liabilities | $ | 68.9 | billion | ? | ||||||
| Owners' Equity | ? | $ | 23.2 | billion | ||||||
a. Determine the amount of total liabilities reported in Coca-Cola’s balance sheet at the beginning of the year.
b. Determine the amount of total owners’ equity reported in Coca-Cola’s balance sheet at the end of the year.
c.
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