1. Suppose the following items were taken from the December 31, 2022, assets section of the Boeing Company balance sheet. (All dollars are in millions.)

Inventory		$15,770		Patents		$12,180
Notes receivabledue after December 31, 2023		4,710		Buildings		20,660
Notes receivabledue before December 31, 2023		390		Cash		8,800
Accumulated depreciationbuildings		13,400		Accounts receivable		5,680
				Debt investments (short-term)		1,680

Prepare the assets section of a classified balance sheet. (List Current Assets in order of liquidity.)

2.

The chief financial officer (CFO) of Carla Vista Corporation requested that the accounting department prepare a preliminary balance sheet on December 30, 2022, so that the CFO could get an idea of how the company stood. He knows that certain debt agreements with its creditors require the company to maintain a current ratio of at least 2:1. The preliminary balance sheet is as follows.

Carla Vista Corp. Balance Sheet December 30, 2022
Current assets						Current liabilities
Cash		$27,000				Accounts payable		$20,760
Accounts receivable		31,800				Salaries and wages payable		11,800		$32,560
Prepaid insurance		6,800		$65,600		Long-term liabilities
Equipment (net)				200,060		Notes payable				81,800
Total assets				$265,660		Total liabilities				114,360
						Stockholders equity
						Common stock		100,000
						Retained earnings		51,300		151,300
						Total liabilities and stockholders equity				$265,660

(a)

Calculate the current ratio and working capital based on the preliminary balance sheet. (Round current ratio to 2 decimal places, e.g. 0.50 : 1.)

Current ratio		enter current ratio rounded to 2 decimal places	:1
Working capital		$enter working capital in dollars