E8-1 (Algo) Preparing a Classified Balance Sheet L08-1 The following is a list of account titles and amounts (dollars in millions) from a recent annual report of Calvin, Inc., a leading manufacturer of games, toys, and interactive entertainment software for children and families: $ 199 165 43 197 800 Buildings and improvements Prepaid expenses and other current assets Allowance for doubtful accounts Other noncurrent assets Accumulated amortization (other intangibles) Cash and cash equivalents Goodwill M. Machinery, equipment, and software Accumulated depreciation Inventories Tools, dies, and molds Other intangibles Land and improvements Accounts receivable 638 468 423 405 291 75 1,362 12 650 Required: Prepare the asset section of the balance sheet for Calvin, Inc., classifying the assets into Current Assets, Property, Plant, and Equipment (net), and Other Assets. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10). Amounts to be deducted should be indicated by a minus sign.) Calvin, Inc. Excerpts from Balance Sheet (in millions) Assets Current assets: $ 638 595 x Cash and cash equivalents Accounts receivable (net of allowance for doubtful accounts) Inventories Tools, dies, and molds Prepaid expenses and other current assets 291 75 X 165 1,764 423 Total current assets Property, plant, and equipment: Machinery, equipment, and software Buildings and improvements Accumulated depreciation Land and improvements 199 405 X 12 Property, plant, and equipment (at cost) 1,039 1,039 Property, plant, and equipment (net) Other Assets: 468 1,362 X Goodwill Other intangibles (net of accumulated amortization) Amortization expense Other noncurrent assets 562 X 197 Total other assets 2,589 Total Assets $ 5,392