I need help filling out the balance sheet and answering two questions about it$.$The balance sheet provides a snapshot of the financial condition of a company. Investors and analysts use the information given on the balance sheet The balance sheet provides a snapshot of the financial condition of a company. Investors and analysts use the information given on the balance sheet

and other financial statements to make several interpretations regarding the company's financial condition and performance.

Blue Hamster Manufacturing Inc. is a hypothetical company. Suppose it has the following balance sheet items reported at the end of its first year of

operation. For the second year, some parts are still incomplete. Use the information given to complete the balance sheet.

Given the information in the preceding balance sheet$-$and assuming that Blue Hamster Manufacturing Inc. has $50$ million shares of common stock

outstanding$-$read each of the following statements, then identify the selection that best interprets the information conveyed by the balance sheet. Statement #$1$: Blue Hamster's net collection of inventory items increased by more than the firm's sales between Years $1$ and $2.$

This statement is

$,$ because:

The accruals balance decreased by $$234$ million between Years $1$ and $2$

Total inventories of raw materials, work$-$in$-$process, and final goods increased from $$3,960$ million to $$4,950$ million between Year $1$ and

Year $2$

Total inventories of raw materials, work$-$in$-$process, and final goods decreased by $$990$ million between Year $1$ and Year $2$

Statement #$2$: Over the past two years, Blue Hamster Manufacturing Inc. has relied more on the use of short$-$term debt than on long$-$

term debt financing.

This statement is

$,$ because:

Blue Hamster's total current liabilities decreased by $$312$ million, while its long$-$term debt account decreased by $$938$ million

Blue Hamster's total current liabilities increased by $$312$ million, while its use of long$-$term debt increased by $$938$ million

Blue Hamster's total notes payable increased by $$78$ million, while its common stock account increased by $$2,438$ million

and other financial statements to make several interpretations regarding the company's financial condition and performance.

Blue Hamster Manufacturing Inc. is a hypothetical company. Suppose it has the following balance sheet items reported at the end of its first year of

operation. For the second year, some parts are still incomplete. Use the information given to complete the balance sheet.

Given the information in the preceding balance sheet$-$and assuming that Blue Hamster Manufacturing Inc. has $50$ million shares of common stock

outstanding$-$read each of the following statements, then identify the selection that best interprets the information conveyed by the balance sheet.