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Current Attempt in Progress Suppose the following items were taken from the 2017 financial statements of Kingbird, Inc.. (All dollars are in millions.) Common

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Current Attempt in Progress Suppose the following items were taken from the 2017 financial statements of Kingbird, Inc.. (All dollars are in millions.) Common stock $3,420 Accumulated depreciation-equipment $2,690 Prepaid rent 175 Accounts payable 1,080 Equipment 6,110 Patents 2,120 Stock investments (long-term) 670 Notes payable (long-term) 850 Debt investments (short-term) 1,6801 Retained earnings 6,375 Income taxes payable 160 Accounts receivable 1,740 Cash 1,060 Inventory 1,020

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