2. Balance sheet A Aa The balance sheet provides a snapshot of the financial condition of a company. Investors and analysts we the information given on the balance sheet and other financial statements to make several interpretations regarding the company's financial condition and performance Green Catepilar Garden Supplies Inc. is a hypothetical company. Suppose it has the following balance sheet toms reported at the end of its fist year of operation. For the second year, some parts are still inomplete. Use the information given to complete the balance sheet Year 2 Year 1 $0 $0 234 1,328 Green Caterpillar Garden Supplies Inc. Balance Sheet for Year Ending December 31 (Millions of dollars) Year 2 Year 1 Assets Uabilities and equity Current assets: Current labilities: Cash and equivalents $3,690 Accounts payable Accounts receivable 1,658 1,350 Accruals Inventories 4,950 3,950 Notes payable Total current assets $11,250 $9,000 Total current liabilities Met fixed assets: Long-term delt Net plant and equipment $11,000 Total dat Common equity: Common stack Retained samnings Total common equity Total axes $25,000 $20,000 Total abilities and equity 1,250 $1,250 3,750 $5,000 4,683 $5,250 12,188 $18,750 $25,000 9,750 5,250 $15,000 $20,000 Given the information in the preceding balance sheet and suming that Green Catepilar Garden Supplies Inc. has 50 million shares of comman stock outstanding read each of the following statements, then identify the selection that best interprets the information conveyed by the balance sheet. Statement #1: Green Catepilars accumulated owed financial obligations dessed from Year 1 to Year 2. This statement is , because: Acouals actually increased from $0 in Year 1 to $234 million at the end of Year 2 Long-term debt decreased from $1,323 million at the end of Year 1 to $1,250 million by the end of Year 2 Nates payable actually increased from $1,328 million to $1,250 million between Years 1 and 2 Statement #2 In Year 2, Green Catepilar Garden Supplies Inc. was profitable. This statement is because: Green Caterpillar's retained earnings account increased between the end of Years 1 and 2 Green Caterpilar's total assets increased between Years 1 and 2 The cash and equivalents account increased between Years 1 and 2 statement #3: The book value per share of Green Catepilar stock in Year 2 wx: $375.00. This statement is ., because: The par-share book value is calculated by dividing the company's total debt by the number of outstanding shares of common stock The par-share book value is calculated by dividing the company's total comman equity by the number of outstanding shares of common stack The per-share book value is calculated by dividing the company's totales by the number of outstanding shares of common stock Based on your understanding of the different items reported in the balance sheet and the information they provide, which statement regarding Green Caterpilar Garden Supplies Inc.'s balance sheet is consistent with us. Generally Acompted Accounting Principles (GAP)? The company's axes should be listed from those carying the largest balance to those with the smallest balance. The company's assets should be listed in alphabetical order. The company's wes should be listed in the order in which they are to be converted into cash