Determining the Effects of Transactions on Balance Sheet and Income Statement Categories – Hasbro is one of the world’s leading toy manufacturers and maker of such popular board games as Monopoly, Scrabble, and Clue, among others. Listed here are selected aggregate transactions from the first quarter of a recent year (dollars in millions). Complete the following tabulation, indicating the sign ( + for increase, – for decrease, and NE for no effect) and amount of the effect of each transaction. Consider each item independently.
a. Recorded sales on account of $792.2 and related cost of goods sold of $319.5.
b. Issued debt with a principle amount of $425.0.
c. Incurred research and development expense of $43.5, which was paid in cash.
| Transaction | Current Assets | Gross Profit | Current Liabilities |
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