Balance Sheet Years ending December 31. ASSETS Current assets: Cash and equivalents Accounts receivables Inventory Total current assets Net fixed assets: Net plant and equipment Total assets LIABILITIES AND EQUITY Current liabilities: Accounts payable Accruals Notes payable Total current liabilities Long-term bonds Total debt Common equity: Common stock Retained earnings Total common equity Total liabilities and equity Year 2 Year 1 $138,375 $110,700 $50,625 $40,500 $148,500 $118,800 $337,500 $270,000 $412,500 $330,000 $750,000 $600,000 $0 $0 $7,031 $0 $39,844 $37,500 $46,875 $37,500 $140,625 $112,500 $187,500 $150,000 $365,625 $292,500 $196,875 $157,500 $562,500 $450,000 $750,000 $600,000 On December 31 of Year 2, Green Caterpillar Garden Supplies Inc. had $138,375 of actual money that it could have spent immediately. This statement is The fun almost because: true in Green Caterpillar's accounts receivable account represents funds that are either cash or can be converted into cas incorrect Green Caterpillar's Year 2 cash and equivalents balance is $348,300. The funds recorded in Green Caterpillar's cash and equivalents account represents funds that are either cash or can be converted into cash almost immediately