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Based on the information in the table below, prepare comparative balance sheets for Windswept Woodworks, Incorporated for years 1 and 2. (Round your answers to
Based on the information in the table below, prepare comparative balance sheets for Windswept Woodworks, Incorporated for years 1 and 2. (Round your answers to the nearest whole number.)
Windswept Woodworks, Incorporated | ||||
Input Data | ||||
(millions of dollars) | ||||
Year 2 | Year 1 | |||
---|---|---|---|---|
Accounts payable | 622 | 554 | ||
Accounts receivable | 1,466 | 1,000 | ||
Accumulated depreciation | 6,932 | 6,802 | ||
Cash & equivalents | 410 | 298 | ||
Common stock | 1,370 | 1,290 | ||
Cost of goods sold | 1,590 | n.a. | ||
Depreciation expense | ? | n.a. | ||
Common stock dividends paid | ? | n.a. | ||
Interest expense | 230 | n.a. | ||
Inventory | 1,200 | 1,196 | ||
Addition to retained earnings | 602 | n.a. | ||
Long-term debt | 998 | 906 | ||
Notes payable | 320 | 470 | ||
Gross plant & equipment | 10,620 | 10,360 | ||
Retained earnings | 3,248 | 2,646 | ||
Sales | 3,108 | n.a. | ||
Other current liabilities | 206 | 186 | ||
Tax rate | 21% | n.a. | ||
Market price per share year end | $ 27.80 | $ 25.50 | ||
Number of shares outstanding | 500 | million | 500 | million |
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