Question
Alex's Interiors, Inc. is an international manufacturer and retailer of home furnishings. The following is from Alex's balance sheet as of September 30, 2020 (dollars
Alex's Interiors, Inc. is an international manufacturer and retailer of home furnishings. The following is from Alex's balance sheet as of September 30, 2020 (dollars are in millions) Cash 114.00 Accounts Receivable 29.00 Inventories 239.00 Other Current Assets 43.00 Property, plant, and Equipment 423.00 Other Assets 133.00 Accounts Payable 43.00 Wages and other Expenses Payable 162.00 Notes Payable, (Long-term) 254.00 Othe Long-term Liabilities 61.00 Contributed Capital 424.00 Retained Earnings 37.00 Assume that the following events occured in the quarter ended December 31 (Amounts provided are in whole dollars): ( a) Paid $10,500,000 cash for a additional other asset. (b) Issued additiional shares for $10,500,000 in cash. (c) Purchased property, plant and equipment; paid $10,500,000 in cash and signed a note to pay the remaining $26,000,000 in two years. (d) Sold, at cost, other assets for $1,850,000 cash. (e) Conducted negotiations to purchase a sawmill, which is expected to cost $53,000,000
Requirement 3: Prepare a classified balance sheet at December 31, 2020. (Enter your answers in millions, rounded to two decimal places}.
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