Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please Balance the source and use statement: 3M Company Year-over-Year Balance Sheet Amounts in $ Millions Assets Cash and Equivalents Accounts Receivable Inventories Prepaid Expenses

Please Balance the source and use statement:

image text in transcribed

3M Company Year-over-Year Balance Sheet Amounts in $ Millions Assets Cash and Equivalents Accounts Receivable Inventories Prepaid Expenses and Other Current Assets Total Current Assets Property, Plant & Equipment Goodwill and intangible assets Other long-term assets Total Assets Liabilities + E ui Accounts Payable and Accruals Short-term Debt and Current Maturities Other current liabilities Total Current Liabilities Long-term Debt and lease liabilities Retirement Benefits and Other Liabilities Total Long-term Liabilities Total Liabilities Common Stock and APIC (net of Treasury stock) Retained Earnings Other comp. income and equity Total Shareholders Equity Total Liabilities + Equity 2020 5,038 4,705 4,239 1 ooo 14,982 9,421 19,637 3 304 47,344 3,608 1,062 3,278 7,948 18,598 7 867 26,465 34,413 (23,233) 43,821 (7,657) 12,931 47,344 2021 4,765 4,660 4,985 993 15,403 9,429 18,774 3 466 47,072 4,274 1,570 3,191 9,035 16,647 6,273 22,920 31,955 (24,025) 45,821 (6,679) 15,117 47,072 Changes (273) (45) 746 (7) 421 8 (863) 162 (272) 666 508 (87) 1,087 (1,951) (1,594) (3,545) (2,458) (792) 2,000 978 2,186 (272) Sources & Uses Statement Sources: Accounts Receivable Depreciation Net income Inventory Pre aid Ex enses Total sources Net income (2021) Dividends and stock buy-backs (2021) Depreciation expense (2021) 45 1,915 5,921 746 7 8,634 Uses: Cash Short Term Debt Dividends Capital Exp Long Term Debt Accounts Payable Other Current Lia Retirement Benefits Total uses 5,921 (3,921) 1,915 273 508 3,921 8 1,951 666 87 1594 9,008

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Advanced Accounting

Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik

10th edition

0-07-794127-6, 978-0-07-79412, 978-0077431808

Students also viewed these Accounting questions