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Anton incurred, during that same year, salary expense of $29 million, rent expense of $20 million, and utilities expense of $21 million. Anton declared and
Anton incurred, during that same year, salary expense of $29 million, rent expense of $20 million, and utilities expense of $21 million. Anton declared and paid dividends of $17 million during the year. At December 31, 2018, Anton had cash of $175 million, accounts receivable of $85 million, property and equipment of $42 million, and other long-term assets of $26 million. At December 31, 2018, the company owed accounts payable of $55 million and had a long-term note payable of $35 million. Anton began 2018 with a balance in retained earnings of $71 million. At December 31, 2018, Anton had total stockholders' equity of $238 million, which consisted of common stock and retained earnings. Anton has a year-end of December 31. Requirement 3. Prepare the balance sheet (with a proper heading) for 2018. (Enter all amounts in millions. Classify the balance sheet by selecting the proper title on all applicable subtotal lines. In the first part complete the assets section of the balance sheet. In the second part complete the liabilities and stockholders' equity section of the balance sheet. Classify the balance sheet by selecting the proper title on all applicable subtotal or total lines. If a box is not used in the table leave the box empty; do not select a label or enter a zero.) Anton Company Balance Sheet December 31, 2018 Assets (millions) Liabilities (in millions) Current assets: Current liabilities: Cash $ 175 Accounts receivable 85 Total current assets 260 Stockholders' equity 42 Property and equipment Other long-term assets 26 $ 328 Total assets Total liabilities and stockholders' equity
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