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Complete the missing balance sheet entries for Travers & Co.'s balance sheets for the years ending 2004 and 2005 based on the following statements: Travers
Complete the missing balance sheet entries for Travers & Co.'s balance sheets for the years ending 2004 and 2005 based on the following statements: Travers issued $25 million of new common stock Travers had net income available to common shareholders of $77 million during 2005. At the end of 2005, Travers paid out $61 million in common dividends Travers neither issued nor retired long-term debt during 2005 In 2005, Travers had cash flows from operating activities of $147 million, cash flow from investing activities of -$80 million, and cash flow from financing activities of -$21 million BALANCE SHEET (Millions of dollars) Yr 1 Yr 2 $ 118 67 62 10 140 210 360 $100 52 50 $ 202 150 352 Cash Accounts receivable Inventories Accounts payable Notes payable Accrued liabilities 170 190 Total current assets Total current liabilities$ 247 Long-term debt Total liabilities Preferred stock Common stock Retained earnings 50 208 258 610 Net fixed assets 280 $ 250 Total common equity Total liabilities and equity Total assets 610
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