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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: 41 85 Cash and cash equivalents Accounts receivable 660 606 Inventory 660 618 Total current assets 1.361 1,309 Property, plant, and equipment 1,525 1,502 Less accumulated depreciation 782 657 Net property, plant, and equipment 743 845 Total assets 2,104 2,154 Liabilities and Stockholders' Equity Current liabilities 264 162 Accounts payable Accrued liabilities 182 168 Income taxes payable 81 74 Total current liabilities 527 404 425 Bonds payable 620 Total liabilities 952 1.024 Stockholders' equity 155 155 Common stock Retained earnings 997 975
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