Below are incomplete balance sheets of OQ Corporation (figures in millions). 

a. Compute the missing amounts, and show the balance sheet at year-ends 1, 2, 3, and 4. Show your computations. 

b. Comment on the asset and liability structure of the firm.

Transcribed Image Text:

End-of-year for balance sheet items Current assets Noncurrent assets Total assets Current assets/current liabilities Current liabilities Noncurrent liabilities Owners' equity Total liabilities and owners' equity Year 1 $3,092 21,094 2,978 9,286 Year 2 $18,160 9,830 8,868 21,182 Year 3 $2,932 17,996 1.023 8,058 Year 4 $20,286 1.04 3,002 8,084