The following items were taken from the 1998 financial statements of Texas In-struments. (All dollars are in millions.)

Instructions Prepare a classified balance sheet in good form as of December 31, 1998.

Transcribed Image Text:

Long-term debt Common stock $1,027 1,436 Loans payable in 1999 Cash $ 267 540 Prepaid expenses 75 Accumulated depreciation 3,006 Property, plant, and equipment 6,379 Accounts payable 1,582 Income taxes payable 193. Other noncurrent assets 467 Other current assets 583 Other noncurrent liabilities 1,500 Other current liabilities 154 Retained earnings 5,091 Long-term investments 2,564 Accounts receivable 1,343 Short-term investments 1,709 Inventories 596