Reformulation of a Balance Sheet, Income Statement, and Statement of Shareholders' Equity (Medium) The following financial statements were reported for a firm for fiscal year 2012 (in millions of dollars):
The firm's income tax rate is 3 5%. The firm reported $15 million in interest income and $98 million in interest expense for 2012. Sales revenue was $3,726 million.
a. Reformulate the balance sheet for 2012 in a way that distinguishes operating and financing activities. Also reformulate the equity statement.
b. Prepare a reformulated statement of comprehensive income.
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