Question

Your answer is partially correct. Try again. Suppose the following items were taken from the 2022 financial statements of Texas Instruments, Inc. (All dollars are in millions.) Common stock Prepaid rent Equipment Stock investments (long-term) Debt investments (short-term) Income taxes payable Cash $2,850 Accumulated depreciation equipment $2,680 165 Accounts payable 1,340 6,650 Patents 2,380 600 Notes payable (long-term) 870 1,860 Retained earnings 8,315 110 Accounts receivable 1,920 1,290 Inventory 1,300 Prepare a classified balance sheet in good form as of December 31, 2022. (List Current Assets in order of liquidity.) TEXAS INSTRUMENTS, INC. Balance Sheet For the Year Ended December 31, 2022 (in millions) Assets Current Assets Accounts Receivable 1,920 Inventory 1,300 Patents 2,380 Stock Investments 600 Cash 1,300

Answer 1

165 TEXAS INSTRUMENT, INC Balance sheet For the year Ended December 31, 2022 (in millions) Current assets: Cash 1290 Accounts Receivable 1920 Prepaid rent Debt Investments (Short term) 1860 Inventory 1300 Total Current assets Property, land and Equipment Stock Investment (Long term) Equipment 6650 Less: Accumulated Depreciation -2680 Intangible assets: Patents Total Assets 6535 600 3970 2380 13485

1450) Liabilities and Stockholders' Equity Current liabilities: Accounts payable 1340 Income tax payable Total current liabilities Long term Liabilities: Notes payable (long term) Total Liabilities Shareholders' Equity Common stock 2850 Retained earnings 8315 Total stockholder's equity Total Liabilities and stockholders' equity 870 2320 11165 13485