The following information relates to Questions 37–42 Balance Sheet Information (US$ Millions) Exhibit 1. As of 31 December 2009 2008 Cash and cash equivalents 172 157 Accounts receivable 626 458 Inventories 620 539 Other current assets 125 65 Total current assets 1,543 1,219 Property and equipment, net 3,035 2,972 Total assets 4,578 4,191 Total current liabilities 1,495 1,395 Long-term debt 644 604 Total liabilities 2,139 1,999 Common stock and paid in capital 1,652 1,652 Retained earnings 787 540 Total shareholders’ equity 2,439 2,192  The LIFO reserves as of 31 December 2009 and 2008 are $155 million and $117 million respectively, and  The effective income tax rate applicable to Karp for 2009 and earlier periods is 20 percent. 39. If Karp had used FIFO instead of LIFO, its reported net income for the year ended 31 December 2009 would have been higher by an amount closest to: A. $30 million. B. $38 million. C. $155 million. 这题，为什么不选B，而选A呢？

为什么CFO从net income往cash flow调整要调balance sheet里的内容？

28. In a period of declining inventory unit costs and constant or increasing inventory quantities, which inventory method is most likely to result in a higher debt-to-equity ratio? A. LIFO B. FIFO C. Weighted average cost 老师，讲解一下这题。

5. Which inventory accounting method results in the lowest inventory turnover ratio for the first quarter? A. Periodic LIFO B. Perpetual LIFO C. Perpetual FIFO 老师，视频课例题里总结的：对于COGS来说，Periodic LIFO＞Perpetual LIFO＞Perpetual FIFO = Perpetual FIFO； 此题应该选C呀，为何答案选A呢？

2. Mustard Seed PLC adheres to IFRS. It recently purchased inventory for €100 million and spent €5 million for storage prior to selling the goods. The amount it charged to inventory expense (€ millions) was closest to: ， A. €95. B. €100. C. €105. 麻烦老师讲解一下该题，附一下解题过程。谢谢。

看不懂这个调整的原理，加加减减啥意思？

这道题的答案看不懂，除以1.08的4次方3次方是什么意思？

12. A write down of the value of inventory to its net realizable value will have a positive effect on the: A. balance sheet. B. income statement. C. inventory turnover ratio. 老师，问一下，这题为什么选C ，而不选B呢。？

请解释一下warrant稀释情况下，分母这样调整的原理，谢谢！

请问 这六大信息 哪些一定会在anunal report（年报）里 出现，哪些是分析师用来参考的？