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Philip Morris/Kraft
Brownlee, E. Richard II; Garner, Frederick H. Case C-2071 / Published March 12, 1990 / 9 pages.
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Product Overview

This case requires students to prepare a pro-forma consolidated income statement and a pro-forma consolidated balance sheet to reflect the acquisition of Kraft by Philip Morris, accounted for as a "purchase." It also asks students to consider the income-tax consequences of the acquisition at both the corporate and shareholder levels.


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  • Overview

    This case requires students to prepare a pro-forma consolidated income statement and a pro-forma consolidated balance sheet to reflect the acquisition of Kraft by Philip Morris, accounted for as a "purchase." It also asks students to consider the income-tax consequences of the acquisition at both the corporate and shareholder levels.

  • Learning Objectives