Preparing a Classified Balance Sheet
Campbell Soup Company is the world's leading maker and marketer of soup and sells other well-known brands of food in 120 countries. Presented here are the items listed on its recent balance sheet (dollars in millions) presented in alphabetical order:
Accounts payable | $ 569 | Other assets | $ 105 |
Accounts receivable | 528 | Other current assets | 148 |
Accrued expenses | 579 | Other current debt | 480 |
Cash and cash equivalents | 51 | Other noncurrent liabilities | 3,700 |
Common stock, $0.0375 par value | 352 | Property, plant, and equipment, net | 1,977 |
Intangible assets | 2,423 | Retained earnings | 376 |
Inventories | 824 |
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Required:
Prepare a classified consolidated balance sheet for Campbell Soup for the current year (ended August 2) using the categories presented in the chapter.
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