104. Selected information based on the comparative balance sheets for Neptune Company, a U.S. defense manufacturer, appears in the following display for the years ended December 31, Years 5, 6, and 7.
Neptune applies U.S. GAAP and reports its results in millions of dollars.
Neptune Company
Balance Sheet Data
December 31
Year 7
Year 6
Year 5
Common Stock$5$5$5
Accumulated Other Comprehensive Income??(1,920)
Retained Earnings??2,998
Treasury Stock(816)(543)(73)
Additional Paid-In Capital10,0979,7229,540
Total Shareholders’ Equity???
Neptune’s other comprehensive income for Year 7 was $774, compared to ($31) in Year
6 and $275 in Year 5. In addition, in Year 7 Neptune made a one-time adjustment of
($1,338) to accumulated other comprehensive income. Comprehensive income for Year 7
was $2,057, compared to $840 in Year 6 and $692 in Year 5. Dividends declared and
paid increased from $356 in Year 5, to $394 in Year 6, to $429 in Year 7.
Required: Compute the missing amounts for each of the three years.
105. How are expenses recognized and measured?