balance sheet provides a snapshot of the financial condition of a company. Investors and analysts use the information given on the balance sheet and other financial statements to make several interpretations regarding the company's financial condition and performance . Cold Goose Metal Works Inc. is a hypothetical company Suppose it has the following balance sheet items reported at the end of its first year of operation For the second year , some parts are still incomplete . Use the information given to complete the balance sheet.

Given the informabon in the preceding balance sheet-and assumina that Cold Goose Metal Works Inc, has 50m illion shares of common stod. outstanding-read each of the following statements, then identify the selection that beat interprets the information conveyed by the balance sheet Given the information in the preceding balance sheet-and assuming that Cold Goose Metal Works Inc. has 50 million shares of common stock outstanding-read each of the following statements, then identify the selection that best interprets the information conveyed by the balance sheet. Statement e 1:Cold Goose's pool of relatively liquid assets, which are available to support the company's current and future sales, decreased from Year 1 to Year 2 . This statement is because: Cold Goose's total current liabilities balance increased from $675 milion to $844 million between Year 1 and Year 2 Cold Goose's total current asset balance actually increased from $4,500 million to $5,625 millon between year 1 and year 2 ? Cold Goose's total current liabilies balance decreased by $1,125 milion between Year 1 and Year 2 Statement #2: In Year 2, Cold Goose Metal Works Inc- was profitable. This statement is because: The cash and equivalents account increased between Years 1 and ? Cold Goose's retaned earrings account increased between the end of rears 1 and 2 . Cold Gobse's total assots increased between Years 1 and 2 Statement a3: One way to interpret the change in Cold Goose's accounts receivable balance from Year 1 to Year 2 is that more customers purchased new items on credit rather than paying off existing credit accounts. This statement is because: The decrease from $844 million to $675 million implies a net decrease in accounts receivable and that more customers are payng off their receivables balances than are buying on credit The $169 increase in accounts receivable means either that Year 1's exsting credit customers are not paying off their owed balances and new or existing customers are making additional purchases on credit, or that Year 1 's credit customers have repaid their owed balances and Year 2 dedit sales have exceeded Year 1 's credit sales The change from $1,980 million to $2,475 million rellects a net accumulation of new credit sales Based on your understanding of the different items reported in the balance sheet and the information they provide, which statement regardino Cold Goose Motal Works inc's balance sheet is consistent with U.5. Generally Accepted Accountang Prinaples (GMAP)? The companv's assets should be listed in the order in which they are to be converted into cash. The company's assets should be listed in alphabebical order. The company's assets should be listed from those carrving the largest balance to those with the smallest balance