Question

Suppose the following items are taken from the 2022 balance sheet of Yahoo! Inc. (All dollars are in millions.) Goodwill Common stock Equipment Accounts payable Patents Stock investments (long-term) Accounts receivable Prepaid rent Debt investments (short-term) Retained earnings Cash Notes payable (long-term) Unearned sales revenue Accumulated depreciation-equipment $4,170 6,480 2,490 100 230 3,050 1,180 210 1,110 6,580 2,110 740 420 230 Prepare a classified balance sheet for Yahoo! Inc. as of December 31, 2022. (List Current Assets in order of liquidity.) YAHOO! INC. Balance Sheet (Amounts are in millions) Assets

Answer 1

Classified Balance Sheet:

YAHOO! INC.
Balance Sheet
As of December 31, 2022
Amounts are in millions)
Assets
Current Assets:
Cash	$2,110
Accounts Receivable	$1,180
Debt Investments (short-term)	$1,110
Prepaid Rent	$210
Total Current Assets		$4,610
Intangible Assets:
Goodwill		$4,170
Patents		$230
Long-term Investments:
Stock investments (long-term)		$3,050
Plant, property and Equipment:
Equipment	$2,490
Less: Accumulated depreciation - equipment	($230)	$2,260
Total Assets		$14,320
Liabilities and Stockholders' Equity
Current Liabilities:
Accounts Payable	$100
Unearned sales revenue	$420
Total Current Liabilities		$520
Long-term Liabilities:
Notes payable (long-term)		$740
Total Liabilities		$1,260
Stockholders' Equity:
Common Stock	$6,480
Retained Earnings	$6,580
Total Stockholders' Equity		$13,060
Total Liabilities and Stockholders' Equity		$14,320