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E5-6 (Algo) Preparing and Interpreting a Classified Balance Sheet with Discussion of Terminology (Challenging) LO5-3 Lance-Snyder manufactures, markets, and distributes a variety of snack food

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E5-6 (Algo) Preparing and Interpreting a Classified Balance Sheet with Discussion of Terminology (Challenging) LO5-3 Lance-Snyder manufactures, markets, and distributes a variety of snack food products including pretzels, sandwich crackers, kettle chips, cookies, potato chips, tortilla chips, other salty snacks, sugar wafers, nuts, and restaurant-style crackers. Presented here are the items listed on a simplified version of its recent balance sheet (dollars in millions) in alphabetical order: Accounts payable Accounts receivable, net Accrued compensation Additional paid-in capital Cash and cash equivalents Common stock, 67,820,798 shares outstanding Goodwill Inventories Long-term debt $ 100,539 215, 223 44,340 1,624,078 34,109 81,699 1,314,362 176,256 1,242,459 Other assets (noncurrent) Other current assets Other intangible assets, net Other long-term liabilities Other payables and accrued liabilities Prepaid expenses and other Property, plant, and equipment, net Retained earnings Short-term debt $ 46,973 138,959 1,374,400 418,444 100,503 35, 110 522,563 194,893 51,000 Required: 1. Prepare a classified consolidated balance sheet for Lance-Snyder for the current year (ended December 31). (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) LANCE-SNYDER Consolidated Balance Sheet (in millions) Assets Current Assets: Required: 1. Prepare a classified consolidated balance sheet for Lance-Snyder for the current year (ended December 31). (Enter your answers in millions (l.e., 10,000,000 should be entered as 10).) LANCE-SNYDER Consolidated Balance Sheet (in millions) Assets Current Assets: Total current assets Total assets Liabilities and Stockholders' Equity Current liabilities: Total assets Liabilities and Stockholders' Equity Current liabilities: Total current liabilities Total liabilities Stockholders' Equity Total stockholders' equity Total liabilities and stockholders' equity

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