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 s and other financial statements to make several interpretations regarding the company's financial condition and performance. Cute Camel Woodcraft Company is a hypothetical company. Suppose it has the following balance sheet items reported at the end of its first year operation. For the second year, some parts are still incomplete. Use the information given to complete the balance sheet. Cute Camel Woodcraft Company Balance Sheet for Year Ending December 31 (Millions of Dollars) Year 2 Year 1 Year 2 Year 1 Assets Current assets: Liabilities and equity Current liabilities: Cash and equivalents $3,459 $2,767 Accounts payable $0 $0 Accounts receivable 1,266 1,013 Accruals 176 Inventories 3,712 2,970 Notes payable 996 937 Total current assets $8,437 $6,750 Total current liabilities $1,172 $937 Net fixed assets: Long-term debt 3,515 2,813 Net plant and equipment $10,313 $8,250 Total debt $4,687 $3,750 Common equity: Common stock 9,141 7,313 Retained earnings 4,922 3,937 Total common equity $14,063 $11,250 Total assets $18,750 $15,000 Total liabilities and equity $18,750 $15,000