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15. The balance sheet for Morgan Company is as follows (in millions of dollars): Morgan Company Balance Sheet As of December 31, 2010 Assets Cash
15. The balance sheet for Morgan Company is as follows (in millions of dollars): Morgan Company Balance Sheet As of December 31, 2010 Assets Cash $10 Accounts receivable Inventory 615 Total Current Assets Net plant and equipment 1,000 Total Assets 375 Liabilities and Stockholders' Equity Accounts payable $60 Notes payable 110 Accruals 140 Total Current Liabilities Long-term liabilities 750 Total Liabilities $1,060 Common Stock (50,000,000 shares) 130 Retained earnings Total liabilities and stockholders' equity Using the previous information, Morgan Company's current assets are ...., its current liabilities are .... and its total liabilities and stockholders' equity are..... a $1,000; $310 and $2,000 respectively. b. $2,000 $1,060 and $2,000 respectively. c. $1,000; $750 and $1,060 respectively. d. none of the above. 810
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