2. Balance sheet The balance sheet provides a snapshot of the financial condition of a company. Investors and analysts use the information given on the balance sheet and other financial statements to make several interpretations regarding the company's financial condition and performance Blue Hamster Manufacturing Inc. is a hypothetical company. Suppose it has the following balance sheet items reported at the end of its first year of operation. For the second year, some parts are still incomplete. Use the information given to complete the balance sheet. Blue Hamster Manufacturing Inc. Balance Sheet for Year Ending December 31 (Millions of Dollars) Year 2 Year 1 Year 2 Year 1 Liabilities and equity Current liabilities: Assets Current assets: $1,107Accounts payable $0 70 399 $0 Cash and equivalents Accounts receivable Inventories 506 1,485 $3,375 405 Accruals 375 $375 1,125 $1,500 1,188 Notes payable Total current assets $2,700Total current liabilities Net fixed assets: Long-term debt 1,406 Net plant and equipment $3,300 Total debt $1,875 Common equity 3,656 2,925 1,575 $4,500 $6,000 Common stock Retained earnings $5,625 $7,500 Total common equity Total assets $7,500 $6,000Total liabilities and equity