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Cute Camel Woodcraft Company Balance Sheet for Year Ending December 31 (Millions of Dollars) Year 2 Year 1 Year 2 Year 1 Assets Liabilities
Cute Camel Woodcraft Company Balance Sheet for Year Ending December 31 (Millions of Dollars) Year 2 Year 1 Year 2 Year 1 Assets Liabilities and equity Current assets: Current liabilities: Cash and equivalents $6,457 Accounts payable $0 $0 Accounts receivable 2,953 2,363 Accruals 410 0 Inventories 8,662 6,930 Notes payable 2,324 2,187 Total current assets $19,687 $15,750 Total current liabilities $2,187 Net fixed assets: Long-term debt 8,203 6,563 Net plant and equipment $19,250 Total debt $10,937 $8,750 Common equity: Common stock 21,328 17,063 Retained earnings 9,187 Total common equity $32,813 $26,250 Total assets $43,750 $35,000 Total liabilities and equity $43,750 $35,000 Given the information in the preceding balance sheet-and assuming that Cute Camel Woodcraft Company has 50 million share- outstanding-read each of the following statements, then identify the selection that best interprets the information conveyed by urrant and futu
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