Balance sheet formats.The following information is based on the balance sheet of Aracruz Celulose, a Brazilian manufacturer of bleached pulp used to make paper, for the year ended December 31, 2006. Aracruz Celulose applies U.S. GAAP and reports its results in thousands of U.S. dollars:
|
Inventories . . . . . . . . . . . . . . . . . . . . . . . |
$ 202,704 |
|
Other Current Assets. . . . . . . . . . . . . . . |
132,782 |
|
Other Long Term Liabilities . . . . . . . . . |
350,761 |
|
Property, Plant, and Equipment, net . . |
2,151,212 |
|
Retained Earnings . . . . . . . . . . . . . . . . . |
1,293,301 |
|
Cash and Short Term Investments . . . . |
579,643 |
|
Goodwill . . . . . . . . . . . . . . . . . . . . . . . . |
129,035 |
|
Common Stock (no par) . . . . . . . . . . . . |
295,501 |
|
Preferred Stock . . . . . . . . . . . . . . . . . . . |
614,496 |
|
Other Noncurrent Assets . . . . . . . . . . . |
451,757 |
|
Current Liabilities . . . . . . . . . . . . . . . . . |
286,819 |
|
Long Term Debt . . . . . . . . . . . . . . . . . . |
1,155,050 |
|
Accounts Receivable . . . . . . . . . . . . . . . |
285,795 |
a.Prepare a balance sheet for Aracruz Celulose assuming the firm follows U.S. GAAP.
b.Prepare a balance sheet for Aracruz Celulose assuming the firm follows IFRS.