Question
Gibraltar, Inc. A partial balance sheet for the company is provided below. Assume that all of the account balances on the balance sheet are normal
Gibraltar, Inc. A partial balance sheet for the company is provided below. Assume that all of the account balances on the balance sheet are normal balances.
Gibraltar, Inc. Partial Balance Sheet (in millions) Assets (in order of liquidity): Dec. 31, 2013 Cash $1,780 Marketable securities 1,000 Accounts receivable 2,644 Inventories 3,010 Prepaid rent 500 Supplies 494 Total Current Assets 9,428
Liabilities (in order of magnitude): Long-term debt 14,465
Other non-current liabilities 4,421 Long-term income taxes payable 3,504 Accounts payable 2,556 Other current liabilities 2,066 Accrued compensation and benefits 1,538 Short-term borrowing 1,200 Estimated warranty liability 793 Income taxes payable 658 1. Refer to the partial balance sheet presented above for Gibraltar, Inc. Compute the total current liabilities for December 31, 2013
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