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. Cold Goose Metal Works 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. Cold Goose Metal Works Inc. Balance Sheet for Year Ending December 31 ( Millions of Dollars) Year 2 Year 1 Year 2 Year 1 Assets Liabilities and equity Current assets: 18, 140 Current 14 , 512 liabilities: Cash and 5+764 $4,612 Accounts $0 $0 equivalents payable Accounts 2,109 1,688 Accruals 293 0 receivable 391 Inventories 6,187 4,950 Notes payable 1,660 2441 0 1, 953 1,562 Total current $14,062 $11,250 Total current $1,562 assets liabilities Net fixed 17 , 188 Long-term 5,859 4,688 assets: 4,250 debt Net plant and 261 300 $13,750 Total debt $7,812 $6,250 equipment Common equity: 8,203 12 , 305 Common stock 15,235 30, 938 12,188 Retained 6,562 earnings Total common $23,438 $18,750 equity Total assets $31,250 $25,000 Total liabilities $31,250 $25,000 and equity