CLANCY$$S DOG BISCUIT CORPORATION

Balance Sheet as of December $31,2021$ and $2020$

$($in millions of dollars$)$

Assets $20212020$ Liabilities and Equity $20212020$

Current assets: Current liabilities:

Cash and marketable securities $ $86$ $ $85$ Accrued wages and taxes $ $62$ $ $55$

Accounts receivable $203195$ Accounts payable $168155$

Inventory $327305$ Notes payable $145145$

Total $ $616$ $ $585$ Total $ $375$ $ $355$

Fixed assets: Long$-$term debt $ $632$ $ $584$

Gross plant and equipment $ $1,115$ $ $910$ Stockholders$$ equity:

Less: Accumulated depreciation $174127$ Preferred stock $(6$ thousand shares$)$ $ $6$ $ $6$

Net plant and equipment $ $941$ $ $783$ Common stock and paid$-$in surplus $(100$ thousand shares$)120120$

Other long$-$term assets $162162$ Retained earnings $586465$

Total $ $1,103$ $ $945$ Total $ $712$ $ $591$

Total assets $ $1,719$ $ $1,530$ Total liabilities and equity $ $1,719$ $ $1,530$