Solution :
=>Cash and equivalents for Year 2= Total Current Assets for Year2 - (Accounts Recievables for Year 2 + Inventory for Year 2 )
We have A/R = 1266 and Inventory = 3712 , total current assets = 8437
Cash and Equivalents = 8437 - (1266 + 3712) = 8437 - 4978 = 3459
Cash and Cash Equivalents for Year 2 , 3459 million $
=> Net plant and equipments for Year 2 = Total Assets for Year 2 - Total Current Assets for year 2
Total Assets for year 2 = 18750 , Total Current assets for year 2 = 8437
Net PP&E = 18750 - 8437 = 10313
Net PP&E for year 2 is 10313 million $
=> Total Current Liabilities for year 2 = Accounts Payable for Year 2 + Accruals for Year 2+ Notes Payable for year2
A/P (year 2) = 0 , Accruals = 176 , N/P = 996
Total CL = 0 + 176 + 996 = 1172
Total current liabilities for year 2 are 1172 million $
=> Retained Earnings for Year 2 = Total common equity for year2 - common stock for year2
Total Common Equity for year 2 = 14063 , Common stock for year 2 = 9141
REtained Earnings for Year 2 = 14063 -9141 = 4922
Retained Earnings for year 2 are 4922 million $
Statement 1 : Cute Camel's net inventory increased by more then the firm sold is correct as the total inventory for WIP , raw materials and finished goods increased from 2970 to 3712
Statement 2: On December 31 year 2, the cute camel woodcraft company had 3459 million $ of acutal money which it could spend immadiately is correct as The funds recorded in Cash and cash equivalents of cute camel's accounts is cash or can be converted into cash immediately.
Statement 3: If the cute camel goes bankrupt , the common shareholders will be paid off first then its debtholders and preferred shareholders , this statement is incorrect as the common shareholders are the residual investors.
statement 4: Based on the understanding of the B/S and the information it provides third statement i.e. the company debt is written in the sequence in which they are to be paid
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