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Exercise 1-19 a-b (Part Level Submission) Suppose the following items were taken from the balance sheet of Nike, Inc. (All dollars are in millions.) 1.
Exercise 1-19 a-b (Part Level Submission)
Suppose the following items were taken from the balance sheet of Nike, Inc. (All dollars are in millions.)
1. | Cash | $2,200.0 | 7. | Inventory | $2,100.0 | |||
---|---|---|---|---|---|---|---|---|
2. | Accounts receivable | 2,800.0 | 8. | Income taxes payable | 70.0 | |||
3. | Common stock | 2,850.0 | 9. | Equipment | 1,700.0 | |||
4. | Notes payable | 300.0 | 10. | Retained earnings | 5,760.0 | |||
5. | Buildings | 3,500.0 | 11. | Accounts payable | 2,230.0 | |||
6. | Mortgage payable | 1,090.0 |
(a) Classify each of these items as an asset, liability, or stockholders' equity, and determine the total dollar amount for each classification. (Enter amounts in millions to 1 decimal place, e.g. 45.5 million.) Cash Accounts receivable Common stock Notes payable Buildings Mortgage payable Inventory Income taxes payable Equipment Retained earnings Accounts payable Assets $ Liability $ Stockholders' equity $
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