Relations between financial statements. The following selected information is based on the 2007 financial statements of the German healthcare firm, Bayer Group. Bayer Group applies IFRS, and reports its results in millions of euros. Compute the missing information in each of the following four independent cases. The letters in parentheses refer to the following:
BS-Balance sheet
IS-Income statement
SCF-Statement of cash flows
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a. Accounts Receivable, January 1, 2007 (BS) . . . . . . . . . . . . . . .
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€ 5,868
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Sales on Account for 2007 (IS) . . . . . . . . . . . . . . . . . . . . . . . . .
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32,385
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Collections from Customers on Account during 2007 (SCF) . . . . . .
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?
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Accounts Receivable, December 31, 2007 (BS) . . . . . . . . . . . . . .
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5,830
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b. Income Taxes Payable, January 1, 2007 (BS) . . . . . . . . . . . . . .
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€ 109
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Income Tax Expense for 2007 (IS) . . . . . . . . . . . . . . . . . . . . . . .
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?
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Payments to Governments during 2007 (SCF) . . . . . . . . . . . . . . .
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763
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Income Taxes Payable, December 31, 2007 (BS) . . . . . . . . . . . . .
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56
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c. Noncurrent financial liabilities, January 1, 2007 (BS) . . . . . . . . .
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€14,723
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Principal payments of debt during 2007 (SCF) . . . . . . . . . . . . . . .
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?
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Issuance of new debt during 2007 (SCF) . . . . . . . . . . . . . . . . . .
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2,155
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Noncurrent financial liabilities, December 31, 2007 (BS) . . . . . . . .
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12,911
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d. Retained Earnings, January 1, 2007 (BS) . . . . . . . . . . . . . . . .
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€ 6,782
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Net Income for 2007 (IS) . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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4,711
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Dividends Declared and Paid during 2007 (SCF) . . . . . . . . . . . . . .
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?
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Retained Earnings, December 31, 2007 (BS) . . . . . . . . . . . . . . . .
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10,749
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