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Mitchell Software Systems reported the following accounts and amounts (in millions) in its financial statements for the year ended November 30, 2018. Accounts Payable Accounts
Mitchell Software Systems reported the following accounts and amounts (in millions) in its financial statements for the year ended November 30, 2018. Accounts Payable Accounts Receivable $ 1,010 1,220 Accumulated Amortization 670 Accumulated Depreciation 1,300 Allowance for Doubtful Accounts 40 Cash and Cash Equivalents 1,200 Common Stock 640 Deferred Revenue 2,300 Equipment 9,230 Income Taxes Payable 40 Notes Payable (long-term) 4,370 Notes Receivable (long-term) 420 Prepaid Rent 440 Retained Earnings 8,870 Service Revenue 660 Short-Term Investments 5,650 Software 1,080 Required: Prepare a classified balance sheet. The Allowance for Doubtful Accounts relates entirely to Accounts Re does not belong on the balance sheet.) (Enter your answers in millions (i.e., 10,000,000 should be ent Assets Current Assets Accounts Receivable, net of Allowance Total Current Assets Non-current Assets Equipment, net of Accumulated Depreciation Software, net of Accumulated Amortization Total Assets Current Liabilities Total Current Liabilities Non-current liabilities 0 $ 0 Liabilities 0 Total Liabilities 0 Stockholders' Equity Total Stockholders' Equity 0 Total Liabilities and Stockholders' Equity $ 0
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