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Using the Following Information Reported in an Annual Report, Prepare

Question 155

Essay

Using the following information reported in an annual report, prepare a horizontal analysis of the consolidated balance sheets. (Round percentage answers to one decimal place.)
 (ln millions) June 30,2010 June 30,2009 Cash and cash equivalents $584$410 Accounts and other receivables 182204 Merchandise inventories 2,0271,902 Prepaid expenses and other current assets 8081 Total current asssets $2,873$2,597 Real estate, net $2,342$2,354 ther, net 2,1131,872 otal property and equipment $4,455$4,226 oodwill, net $374$347 Dther asssets 651729 Total assets $8,353$7,899 Short-term borrowings $278$156 Accounts payable 1,6171,415 Accrued expenses and other current liabilities 836696 come taxespayable 107224 otal current liabilities $2,838$2,491 ong-term debt $1,230$1,222 Deferred income taxes 362333 Other liabilities 243229 Total liabilities $4,673$4,275 ommon stock $30$30 Iclitional paicl-in capital. 453459 etained earnings 4,7574,478 oreign currency transiation adjustments  (137) (100) asury shares, at cost (1,423)(1,243) al stockholders equity $3,680$3,624 al liabilities and stoc $8,353$7,899\begin{array}{lcc} \text { (ln millions)}& \text { June 30,2010}& \text { June 30,2009}\\\text { Cash and cash equivalents } &\$ 584&\$ 410\\\text { Accounts and other receivables }&182&204\\ \text { Merchandise inventories } & 2,027 & 1,902 \\ \text { Prepaid expenses and other current assets } & 80 & 81\\ \text { Total current asssets } & \$ 2,873 & \$ 2,597 \\ \text { Real estate, net } & \$ 2,342 & \$ 2,354 \\ \text { ther, net } & 2,113 & 1,872 \\ \text { otal property and equipment } & \$ 4,455 & \$ 4,226 \\ \text { oodwill, net } & \$ 374 & \$ 347 \\ \text { Dther asssets } & 651 & 729 \\ \text { Total assets } & \$ 8,353 & \$ 7,899 \\\\ \text { Short-term borrowings } & \$ 278 & \$ 156 \\ \text { Accounts payable } & 1,617 & 1,415 \\ \text { Accrued expenses and other current liabilities } & 836 & 696 \\ \text { come taxespayable } & 107 & 224 \\\text { otal current liabilities } & \$ 2,838 & \$ 2,491 \\ \text { ong-term debt } & \$ 1,230 & \$ 1,222 \\ \text { Deferred income taxes } & 362 & 333 \\ \text { Other liabilities } & 243 & 229 \\\text { Total liabilities } & \$ 4,673 & \$ 4,275 \\\\ \text { ommon stock } & \$ 30 & \$ 30 \\\text { Iclitional paicl-in capital. } & 453 & 459 \\\text { etained earnings } & 4,757 & 4,478 \\ \text { oreign currency transiation adjustments } & \text { (137) } & (100) \\ \text { asury shares, at cost } & (1,423) & (1,243) \\ \text { al stockholders equity } & \$ 3,680 & \$ 3,624 \\ \text { al liabilities and stoc } & \$ 8,353 & \$ 7,899 \\\end{array}

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