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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
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. Green Caterpillar Garden Supplies 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 sheets for Green Caterpillar Garden Supplies Inc. for the years ending December 31, Year 2 and 1, respectively. Green Caterpillar Garden Supplies Inc. Balance Sheet For the Year ended December 31 Year 2 Year 1 Year 2 Year 1 Assets Current assets: Cash and equivalents Accounts receivable Inventories Total current assets $0 $36,900 $13.500 539,600 $90,000 $16,875 $49,500 $112,500 30 $2,344 $13,281 50 $12,500 $12,500 Net fixed assets Net plant and equipment Liabilities and equity Current liabilities: Accounts payable Accruals Notes payable Total current abilities Long-term debt Total debt Common equity Common stock Retained earnings Total common equity Total liabilities and equity $110,000 $46,875 562.500 $37,500 $50,000 $121,875 Total assets $97,500 $52,500 $150,000 $200,000 $250,000 $187,500 $250,000 $200,000 Given the information in the preceding balance sheet-and assuming that Green Caterinden
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