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Finance 311 - HW! Please help! :)

Cold Goose Metal Works Inc. Balance Sheet for Year Ending December 31 (Millions of Dollars) Year 2 Year 1 Year 2 Year 1 Assets Current assets Liabilities and equity Current liabilities: Cash and equivalents Accounts receivable Inventories $8,072 2,953 8,662 $19,687 $6,457 Accounts payable $0 410 2,324 $2,734 8,203 $10,937 $0 2,363 6,930 $15,750 Accruals Notes payable 2,187 $2,187 6,563 $8,750 Total current assets Total current liabilities Net fixed assets Long-term debt Net plant and equipment $24,063 $19,250 Total debt Common equity: 21,328 11,485 $32,813 $43,750 Common stock 17,063 9,187 $26,250 $35,000 Retained earnings Total common equity Total assets $43,750 $35,000 abilities and equity

Statement #1: Cold Gooses net collection of inventory items increased by more than the firm sold between Years 1 and 2. This statement is ,because: O The accounts receivable balance increased by $590 million between Years 1 and 2 Total inventories of raw materials, work-in-process, and final goods increased from $6,930 million to $8,662 million between Year 1 and Year 2 Total inventories of raw materials, work-in-process, and final goods decreased by $1,732 million between Year 1 and Year 2 Statement #2: On December 31 of Year 2, Cold Goose Metal works Inc. had $8,072 million of actual money that it could have spent immediately. This statement is because: Cold Gooses Year 2 cash and equivalents balance is $20,317 or can be converted into cash almost immediately can be converted into cash almost immediately O The funds recorded in Cold Gooses cash and equivalents account represents funds that are either cash O The funds recorded in Cold Gooses accounts receivable account represents funds that are either cash or

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