Please answer question 1. Thanks CONSOLIDATED BALANCE SHEET at November 30 (mill

ID: 2520023 • Letter: P

Question

Please answer question 1. Thanks

CONSOLIDATED BALANCE SHEET at November 30 (millions) Assets Cash and cash equivalents Trade accounts receivable, less allowances of $4.0 for 2014 and $4.1 for 2013 Inventories Prepaid expenses and other current assets 2014 2013 $ 77.3 493.6 713.8 131.5 S 63.0 495.5 676.9 134.8 Total current assets 1,416.2 Property, plant and equipment, net Goodwill Intangible assets, net Investments and other assets 602.7 1,722.2 330.8 342.4 1,3702 576.6 1,798.5 333.4 371.0 Total assets $4414.3 $4,449.7 Liabilities Short-term borrowings Current portion of long-term debt Trade accounts payable Other accrued liabilities 269.6 1.2 372.1 479.1 S 211.6 2.5 387.3 61.7 1,063.1 Total current liabilities 1,122.0 Long-term debt Other long-term liabilities 1,014.1 468.8 1,019.0 19.9 2,502.0 Total liabilities 2,604.9 Shareholders' equity Common stock, no par value; authorized 320.0 shares issued and outstanding 2014-12.0 shares, 2013-12.1 shares Common stock non-voting, no par value; authorized 320.0 shares; issued and outstanding: 367.2 352.8 2014-116.4 shares, 2013-119.0 shares Retained earnings Accumulated other comprehensive loss Non-controlling interests 628.4 982.6 (186.0) 17.2 1,809.4 609.6 970.4 (0.3) 15.2 1,947.7 Total shareholders' equity Total liabilities and shareholders equity $4,414.3 $4,449.7 See Notes to Consolidated Financial Statements

Explanation / Answer

2014

2013

Inventory at

713.8

676.9

increase/ decrease in inventory

713.8-676.9

36.9

There are more debits in inventory accounts because inventory account is a real account which has a debit balance so balance in inventory account has increased in 2014 in comparison to 2013 it means there are more debits rather than credit so there is increase in value of inventory over the year