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Constructing and Analyzing Balance Sheet Amounts from Incomplete Data Selected balance sheet amounts for 3M Company, a manufacturer of consumer and business products, for three
Constructing and Analyzing Balance Sheet Amounts from Incomplete Data Selected balance sheet amounts for 3M Company, a manufacturer of consumer and business products, for three recent years follow. Total (a) Compute the missing balance sheet amounts for each of the three years shown. Current Long-term Current Long-term Total Stockholders' is millions) Assets Assets Assets Liabilities Liabilities Liabilities Equity 2010 112.21515 $30.156 S $8,050 $14.139 516,017 2011 12240 19.376 5441 10.313 15 862 2012 20.246 33.876 6.200 9.636 15.836 (b) What types of accounts would we expect to be included in current assets? In long term assets? b. Which of the following would be included amount 3M's current assets? Note: Next to each item, select yes or no to indicate whether the item is a current asset or not. Item Current Asset 1. Cash and cash equivalents 2. Property plant & equipment 2. Inventory 4. Accounts payable 5. Marketable securities 6. Goodwill 7. Accrued expenses 3. Prepaid expenses Which of the following would be included among 3M's long-term assets? Note: Next to each item, select yes or no to indicate whether the item is a long-term asset or not. Item long-term Asset 1. Property plant & aquipment 2. Accounts payable e 3. Intangible assets 4 Work in process 5. Goodwill 6. Accrued expenses 7, Prald expenses & Lontemnotes payable . .. Check
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