La Campania SpA produced various types of pasta. The company had the following trial balance for the year ended 30 June 2005 (amounts in millions of euro):
| |
Debit |
Credit |
|
Current assets
|
4,173
|
|
| PPE, net |
5,266 |
|
| Intangible assets, net |
4,735 |
|
| Other assets |
3,377 |
|
|
Current liabilities
|
|
3,788
|
|
Long term debt and other liabilities
|
|
6,882
|
|
Shareholders equity*
|
|
5,609
|
|
Sales
|
|
20,367
|
|
Cost of sales
|
8,198
|
|
|
Selling, general and administrative expenses
|
9,103
|
|
|
Other expenses
|
2,217
|
|
|
Other income
|
|
1,201
|
|
Cash dividends
|
778
|
|
|
Total
|
37,847
|
37,847
|
|
*include beginning retained earnings.
|
|
|
(a) Prepare La Campania SpA's income statement for the year ended 30 June 2005.
(b) Prepare La Campania SpA's balance sheet as at 30 June 2005.