Complete the balance sheet using cash flow data Following is a partially completed balance sheet for Epsico, Inc., at December 31, 2009, together with com- parative data for the year ended December 31, 2008. From the statement of cash flows for the year ended December 31, 2009, you determine the following: Net income for the year ended December 31, 2009, was $26. Dividends paid during the year ended December 31, 2009, were $8. Cash increased $8 during the year ended December 31, 2009. The cost of new equipment acquired during 2009 was $15; no equipment was disposed of. There were no transactions affecting the land account during 2009, but it is estimated that the fair market value of the land at December 31, 2009, is $42. Required: Complete the balance sheet at December 31, 2009.

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Assets EPSICO, INC. Balance Sheets December 31, 2009 and 2008 2009 2008 2009 2008 Liabilities and Owners' Equity Current assets: Current liabilities: Cash $38 $ 30 Note payable Accounts receivable 126 120 Accounts payable $ 49 123 Inventory 241 230 Total current assets $405 $380 Total current liabilities $172 Long-term debt 40 $ 40 110 $150 Land Equipment Less: Accumulated depreciation $25 $ 25 Total liabilities $238 $230 390 375 Owners' Equity Common stock $200 $200 (180) (160) Retained earnings 208 190 Total land & equipment $235 $240 Total owners' equity Total liabilities and $408 $390 Total assets $440 $620 owners' equity $640 $620