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Accounting Equation Campbell Soup Co. (CPB) had the following assets and liabilities (in millions) at the end of Year 1. Assets $7,837 Liabilities 6,304 a.
Accounting Equation Campbell Soup Co. (CPB) had the following assets and liabilities (in millions) at the end of Year 1. Assets $7,837 Liabilities 6,304 a. Determine the stockholders' equity of Campbell Soup at the end of Year 1. $ million b. If assets decreased by $111 million and liabilities decreased by $223 million, what was the increase or decrease in stockholders' equity for Year 2? $ million c. What were the total assets, liabilities, and stockholders' equity at the end of Year 2? Total assets $ million Total liabilities $ million Total stockholders' equity $ million d. Based upon your answer to (c), does the accounting equation balance
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