Note 5. discloses that Clorox has $375 of Capitalized Software Costs at June 30, 2018. If Clorox had instead chosen never to capitalize its software development costs, how would its end of fiscal year 2018 balance sheet be different? Group of answer choices: Noncurrent assets would be higher, Shareholders’ Equity would be higher. Noncurrent assets would be lower, Shareholders’ Equity would be lower. Noncurrent assets would be higher, Shareholders’ Equity would be lower. Noncurrent assets would be lower, Shareholders’ Equity would be higher.
Dollars in millions, except share and per share data
2018
2017
ASSETS Current assets Cash and cash equivalents Receivables, net Inventories, net Prepaid expenses and other current assets Total current assets Property, plant and equipment, net Goodwill Trademarks, net Other intangible assets, net Other assets Total assets
S
131$ 600 506 74 1,311 996 1,602 795 134 222 5,060$
418 565 459 72 1,514 931 1,196 654 68 210 4,573
S
LIABILITIES AND STOCKHOLDERSEQUITY
Current liabilities Notes and loans payable Current maturities of long-term debt Accounts payable and accrued liabilities
$
199 $
404 400 1,005 1,809 1,391 770 61 4,031
1,001 1,200 2,284 778 72 4,334
Total current liabilities
Long-term debt Other liabilities Deferred income taxes Total liabilities
Commitments and contingencies
Stockholders' equity Preferred stock:$1.00 par value;5,000,000 shares authorized;none issued or outstanding Common stock: $1.00 par value; 750,000,000 shares authorized; 158,741,461 shares issued as of June 30, 2018 and 2017;and 127,982,767 and 129,014,172 shares outstanding as of June 30,2018 and 2017,respectively
159 975 2,797 (2,658) (547) 726 5,060 S
159 928 2,440 (2,442) (543) 542 4,573
Additional paid-in capital Retained earnings Treasury shares, at cost: 30,758,694 and 29,727,289 shares as of June 30, 2018 and 2017, respectively Accumulated other comprehensive net (losses) income Stockholders' equity Total liabilities and stockholders' equity
