Question

servlet/quiz?quiz action takeQuiz&quiz_probGuid-QNAPCOA80101000000497a20e0050000&ctx ream-0062&ckem 154896s 2. Balance sheet Aa Aa The balance sheet provides a snapshot of the financial condition of a company. Investors and analysts use the information given the balance sheet and other financial statements to make several interpretations regarding the company's financial condition and performance Cold Goose Metal Works Inc. is a hypothetical company. Suppose it has the folowing balance sheet items reported at the end of it first year of operation. For the secong year, some parts are still incomplete. Use the information given to complete the balance sheet. 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 liabiities: Cash and equivalents$4,612 Accounts payable Accounts recelvable $o 293 1,660 $o 2,109 6,187 1,688 Accruals 4,950 Notes payable 1,562 $14,062-311,250 ーーーゴーSL562 Total current assets Total current liabilities Net foxed assets: Long-term debt 5,859 $7,812 4,688 $6,2s0 Net plant and equipment $13,750 Total debt Common equity Common stock Retained earnings Total common equity 15,235 12,188 $31,250 $25,000 Total liabities and equty 23,438 $18,750 $31,250 Total assets $25,000

Answer 1