Selected information based on the comparative balance sheets for Neptune Company, a U.S.defense manufacturer, appears in the following display for the years ended December 31, Years 5, 6, and 7.
Neptune applies U.S.GAAP and reports its results in millions of dollars.
Neptune’s other comprehensive income for Year 7 was $774, compared to ($31) in Year 6 and $275 in Year 5. In addition, in Year 7 Neptune made a one-time adjustment of ($1,338) to accumulated other comprehensive income. Comprehensive income for Year 7 was $2,057, compared to $840 in Year 6 and $692 in Year 5. Dividends declared and paid increased from $356 in Year 5, to $394 in Year 6, to $429 in Year 7.

Required: Compute the missing amounts for each of the three years.
(amounts in millions of US$)

Question

Selected information based on the comparative balance sheets for Neptune Company, a U.S.defense manufacturer, appears in the following display for the years ended December 31, Years 5, 6, and 7.
Neptune applies U.S.GAAP and reports its results in millions of dollars.
  Neptune’s other comprehensive income for Year 7 was $774, compared to ($31) in Year 6 and $275 in Year 5. In addition, in Year 7 Neptune made a one-time adjustment of ($1,338) to accumulated other comprehensive income. Comprehensive income for Year 7 was $2,057, compared to $840 in Year 6 and $692 in Year 5. Dividends declared and paid increased from $356 in Year 5, to $394 in Year 6, to $429 in Year 7.

Required: Compute the missing amounts for each of the three years.
(amounts in millions of US$)

Quizplus · Accepted Answer

The Answer of Selected information based on the comparative balance sheets for Neptune Company, a U.S.defense manufacturer, appears in the following display for the years ended December 31, Years 5, 6, and 7.
Neptune applies U.S.GAAP and reports its results in millions of dollars.
  Neptune’s other comprehensive income for Year 7 was $774, compared to ($31) in Year 6 and $275 in Year 5. In addition, in Year 7 Neptune made a one-time adjustment of ($1,338) to accumulated other comprehensive income. Comprehensive income for Year 7 was $2,057, compared to $840 in Year 6 and $692 in Year 5. Dividends declared and paid increased from $356 in Year 5, to $394 in Year 6, to $429 in Year 7.

Required: Compute the missing amounts for each of the three years.
(amounts in millions of US$)

Selected Information Based on the Comparative Balance Sheets for Neptune