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Green Earth Homes, Inc., builds environmentally sensitive structures. The company's 2 0 2 1 revenues totaled $ 2 , 7 9 0 million. At December
Green Earth Homes, Inc., builds environmentally sensitive structures. The company's revenues totaled $ million. At December and the company had,
respectively, $ million and $ million in current assets. The December and balance sheets and income statements reported the following amounts:
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Read the requirements.
Requirement Describe each of Green Earth Homes, Inc.s liabilities and state how the liability arose.
Choose the correct liability from the list that best fits the description provided.
The amount of longterm notes and bonds payable that the company expects to pay after the coming year.
A catchall group of liabilities that do not fit one or more specific categories. This is usually listed among the longterm liabilities.
Amounts owed to suppliers for products or services that have been purchased on account.
Amounts owed to employees for salaries and other payrollrelated expenses.
Amounts owed for providing benefits to retirees such as health care costs.
The next year's payments on the company's longterm debt.
Expenses that the company has incurred but not yet paid; these are liabilities for expenses such as interest and income taxes.
Requirement What were the company's total assets at December
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