Preparing financial statements
The following information was taken from the 2008 annual report of Bristol-Myers Squibb, a world-leading drug company (dollars in millions).
|
Cost of goods sold |
$ 6,396 |
Cash and equivalents |
$ 7,976 |
|
Net cash from operations |
3,707 |
Short-team borrowings |
154 |
|
Accounts receivable |
3,710 |
Advertising and product expense |
1,550 |
|
Restructuring expense |
218 |
Accounts payable |
1,535 |
|
Net cash from financing |
(2,582) |
Long-term liabilities |
10,601 |
|
Shareholders” equity |
12,241 |
Net sales |
20,597 |
|
Net cash from investing |
5,079 |
Property, plant, and equipment |
5,405 |
|
Research and dev. expense |
3,585 |
Other current assets |
2,788 |
|
Other noncurrent assets |
9,384 |
Other current liabilities |
2,085 |
|
Other expenses |
901 |
Selling and adm. expenses |
4,792 |
|
Marketable securities |
289 |
Accrued payables |
2,936 |
Prepare an income statement, balance sheet, and statement of cash flows, and comment on the financial performance and condition of the company.