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    The following items are taken from the 2004 balance sheet of Yahoo!, Inc. (All
    dollars are in thousands.)
    Intangible assets $3,031,623
    Common stock 5,684,300
    Property and equipment, net 531,696
    Accounts payable 48,205
    Other assets 481,832
    Long-term investments 1,042,575
    Accounts receivable 483,951
    Prepaid expenses and other current assets 94,549
    Short-term investments 2,688,252
    Retained earnings 1,417,146
    Cash and cash equivalents 823,723
    Long-term debt 750,000
    Accrued expenses and other current liabilities 853,115
    Unearned revenue?current 279,387
    Other long-term liabilities 146,048
    Instructions
    Prepare a classified balance sheet for Yahoo! Inc. as of December 31, 2004.
    Tot. current assets $4,090,475
    Tot. assets $9,178,201

    These items are taken from the financial statements of Drew Corporation for 2007.
    Retained earnings (beginning of year) $31,000
    Utilities expense 2,000
    Equipment 66,000
    Accounts payable 13,300
    Cash 17,900
    Salaries payable 3,000
    Common stock 13,000
    Dividends 12,000
    Service revenue 82,000
    Prepaid insurance 3,500
    Repair expense 1,800
    Depreciation expense 3,300
    Accounts receivable 14,200
    Insurance expense 2,200
    Salaries expense 37,000
    Accumulated depreciation 17,600
    Instructions
    Prepare an income statement, a retained earnings statement, and a classified balance
    sheet as of December 31, 2007.
    Net income $35,700
    Tot. assets $84,000

    © BrainMass Inc. brainmass.com March 4, 2021, 8:11 pm ad1c9bdddf
    https://brainmass.com/business/financial-statements/financial-statements-150646

    Solution Summary

    Excel file contains classified balance sheet for Yahoo! Inc. as of December 31, 2004 and an income statement, a retained earnings statement, and a classified balance sheet of Drew Corporations of December 31, 2007.

    $2.49

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