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Item 1

E8-1 (Algo) Preparing a Classified Balance Sheet LO8-1

The following is a list of account titles and amounts (dollars in millions) from a recent annual report of Calvin, Inc., a leading manufacturer of games, toys, and interactive entertainment software for children and families:

Buildings and improvements	$	202
Prepaid expenses and other current assets		175
Allowance for doubtful accounts		33
Other noncurrent assets		192
Accumulated amortization (other intangibles)		800
Cash and cash equivalents		624
Goodwill		474
Machinery, equipment, and software		422
Accumulated depreciation		410
Inventories		299
Tools, dies, and molds		82
Other intangibles		1,376
Land and improvements		13
Accounts receivable		635

Required:

Prepare the asset section of the balance sheet for Calvin, Inc., classifying the assets into Current Assets, Property, Plant, and Equipment (net), and Other Assets. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10). Amounts to be deducted should be indicated by a minus sign.)

Calvin, Inc. Excerpts from Balance Sheet (in millions) Assets Current assets: Total current assets Property, plant, and equipment: Property, plant, and equipment (at cost) Property, plant, and equipment (net) Other Assets: Other Assets: Total other assets Total Assets