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Listed below are year-end account balances ($ in millions) taken from the records of Symphony Stores. Debit Credit Accounts receivable-trade 681 Building and equipment 929

Listed below are year-end account balances ($ in millions) taken from the records of Symphony Stores.

Debit Credit

Accounts receivable-trade 681

Building and equipment 929

Cash-checking 35

Interest receivable 44

Inventory 22

Land 158

Notes receivable (long-term) 469

Petty cash fund 7

Prepaid rent 36

Supplies 11

Trademark 46

Accounts payable-trade 655

Accumulated depreciation 73

Additional paid-in capital 476

Allowance for uncollectible accounts 16

Cash dividends payable 21

Common stock, at par 13

Income tax payable 63

Notes payable (long-term) 803

Retained earnings 295

Deferred revenues 23

TOTALS 2,438 2,438

What would Symphony report as total assets?

Multiple Choice $1,546 millions. $2,365 millions. $2,438 millions. $2,349 millions.

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