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A comparative balance sheet and an income statement for Burgess Company are given below Burgess Company Comparative Balance Sheet (dollars in millions) Ending Beginning Balance
A comparative balance sheet and an income statement for Burgess Company are given below Burgess Company Comparative Balance Sheet (dollars in millions) Ending Beginning Balance Balance Assets Current assets Cash and cash equivalents Accounts receivable Inventory $ 65 $ 133 822 714 900 780 Total current assets 1,7451,669 1,765 926 1,718 729 Property, plant, and equipment Less accumulated depreciation Net property,plant, and equipment Total assets 839 989 $ 2,584 $ 2,658 Liabilities and Stockholders' Equity Current liabilities: Accounts payable Accrued liabilities Income taxes payable $ 312 $ 186 144 98 206 129 Total current liabilities Bonds payable 647 545 428 860 Total liabilities 1,192 1,288 Stockholders' equity: Common stock Retained earnings 275 1,117 1,095 275 Total stockholders' equity 1,392 1,370 Total liabilities and stockholders' equity $ 2,584 $ 2,658
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