HEALTH CARE
Abbott Laboratories and Subsidiaries*
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CONSOLIDATED BALANCE SHEET (IN PART) |
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Liabilities and Shareholders’ Investment |
31 Dec |
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Current Liabilities: |
2008 |
2007 |
2006 |
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Short term borrowings |
$1,691,069 |
$1,827,361 |
$5,305,985 |
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Trade accounts payable |
1,351,436 |
1,219,529 |
1,175,590 |
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Salaries, wages, and commissions |
1,011,312 |
859,784 |
807,283 |
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Other accrued liabilities |
4,216,742 |
3,713,104 |
3,850,723 |
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Dividends payable |
559,064 |
504,540 |
453,994 |
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Income taxes payable |
805,397 |
80,406 |
262,344 |
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Obligation in connection with conclusion of TAP |
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Pharmaceutical Products, Inc. joint venture |
915,982 |
— |
— |
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Current portion of long term debt |
1,040,906 |
898,554 |
95,276 |
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Total Current Liabilities |
11,591,908 |
9,103,278 |
11,951,195 |
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Long term Debt |
8,713,327 |
9,487,789 |
7,009,664 |
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Postemployment Obligations and Other Long term Liabilities |
4,634,418 |
3,344,317 |
3,163,127 |
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Commitments and Contingencies |
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Shareholders’ Investment: |
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Preferred shares, one dollar par value |
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31 Dec |
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2008 |
2007 |
2006 |
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Liabilities and Shareholders’ Investment |
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Authorized—1,000,000 shares, none issued |
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Common shares, without par value |
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Authorized—2,400,000,000 shares |
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Issued at stated capital amount – |
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Shares: 2008: 1,601,580,899; 2007: |
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1,580,854,677; 2006: 1,550,590,438 |
7,444,411 |
6,104,102 |
4,290,929 |
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Common shares held in treasury, at cost – |
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Shares: 2008: 49,147,968; 2007: 30,944,537; |
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2006: 13, 347,272 |
2,626,404 |
1,213,134 |
195,237 |
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Earnings employed in the business |
13,825,383 |
10,805,809 |
9,568,728 |
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Accumulated other comprehensive income (loss) |
1,163,839 |
2,081,763 |
389,766 |
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Total Shareholders’ Investment |
17,479,551 |
17,778,540 |
14,054,186 |
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$42,419,204 |
$39,713,924 |
$36,178,172 |
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Required
a. 1. The statement is entitled ‘‘Consolidated Balance Sheet.’’ What does it mean to have a consolidated balance sheet?
b. 1. What current liability decreased the most?
2. What current liability increased the most?
c. 1. How many common shares had been issued as of December 31, 2008?
2. How many shares were held in the treasury at December 31, 2008?
3. How many shares were outstanding at December 31, 2008?
4. What is the treasury stock method?
d. 1. Abbott Laboratories discloses the account ‘‘Earnings employed in the business.’’ What is this account usually called?