E9-1 (Algo) Preparing a Classified Balance Sheet [LO 9-1, LO 9-7] The following is a list of account titles and amounts (in millions) reported at December 30, 2018, by Cherry Toys Incorporated a leading manufacturer of games, toys, and interactive entertainment software for children and families: Accounts Receivable Accumulated Amortization Accumulated Depreciation Allowance for Doubtful Accounts Buildings Cash and Cash Equivalents Required: $ 1,128 757 Equipment Goodwill $ 582 687 512 40 Inventory Land 362 12 252 692 Licensing Rights Prepaid Rent 1,847 367 1. Prepare the asset section of a classified balance sheet for Cherry Toys Incorporated. 2-a. Using Cherry Toy's 2018 Net Sales Revenue of $4,510 (million) and its average Net Fixed Assets of $274 (million), calculate the fixed asset turnover ratio for 2018. 2-b. Has the company generated more or less revenue from each dollar of fixed assets than in 2017, when the ratio was 18.08? Complete this question by entering your answers in the tabs below. Req 1 Req 2A Req 2B Prepare the asset section of a classified balance sheet for Cherry Toys Incorporated. (Enter assets in the order of their liquidity. Enter your answers in millions. Amounts to be deducted should be indicated by a minus sign.) Cherry Toys Incorporated Balance Sheet (partial) December 30, 2018 (in millions) Current Assets: Cash and Cash Equivalents Accounts Receivable Allowance for Doubtful Accounts Accounts Receivable Inventory Prepaid Rent Total Current Assets Property, Plant, and Equipment Land Equipment Buildings Accumulated Depreciation Property, Plant, and Equipment (at cost) Total Property, Plant, and Equipment (net) Other Assets Licensing Rights Goodwill Accumulated Amortization Total Other Assets Total Assets Assets 0 0 0 0 0 $ 0 < Req 1 Req 2A >