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Peggy's Shoe Warehouse, Incorporated, previously called DSW, sells luxurious and fashionable shoes. Its balance sheet, at August 3, 2019 (the first Saturday of the month),
Peggy's Shoe Warehouse, Incorporated, previously called DSW, sells luxurious and fashionable shoes. Its balance sheet, at August 3, 2019 (the first Saturday of the month), contained the following items and approximate amounts (in millions). Amounts owed to suppliers Peggy's Shoe Warehouse's right to collect on account Currency and bank account balances Common stock issued to stockholders Warehouses, stores, and offices Merchandise held for sale Amounts owed for promissory notes Accumulated profits of the company Required: 1. Give the account name commonly used for each item listed. $ 654 87 77 464 1,710 708 1,190 274 2. Prepare the balance sheet as of August 3, 2019, providing appropriate totals and subtotals. 3. As of August 3, did most of the financing for assets come from creditors or stockholders? Prepare the balance sheet as of August 3, 2019, providing appropriate totals and subtotals. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) PEGGY'S SHOE WAREHOUSE, Incorporated Balance Sheet (in millions) $ 0 $ < Required 1 0 0 0 Required 3 > As of August 3, did most of the financing for assets come from creditors or stockholders? Most of the financing for assets came from < Required 2 Required 3 >
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