The following items are from the 2006 balance sheet of Kellogg Company. (All dollars are in millions.)

Question:

The following items are from the 2006 balance sheet of Kellogg Company. (All dollars are in millions.)

Common stock ............$ 396.9

Other assets ............5,471.4

Notes payable—current ........1,268.0

Other current assets ......... 247.7

Current maturities of long-term debt ... 723.3

Cash and cash equivalents ....... 410.6

Other long-term liabilities .......1,571.8

Retained earnings ..........1,672.1

Accounts payable .......... 910.4

Other current liabilities .......1,118.5

Accounts receivable, net ........ 944.8

Property, net ............2,815.6

Inventories ............ 823.9

Long-term debt ..........3,053.0

Instructions

Prepare a classified balance sheet for Kellogg Company as of December 31, 2006.


Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
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