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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 $10 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 -$36 million. BALANCE SHEET (Millions of dollars) Yr 2 Cash Accounts receivable Inventories Total current assets A 170 190 B Yr 1 $ 10 140 210 $ 360 Yr 1 $ 100 52 50 $ 202 150 Yr 2 Accounts payable $ 118 Notes payable 67 Accrued liabilities 62 Total current liabilities $ 247 Long-term debt Total liabilities D Preferred stock Common stock E Retained earnings F Total common equity G Total liabilities and equity I $ 352 50 208 Net fixed assets $ 250 $ 258 $ 280 H Total assets $ 610 $ 610
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