Please do the trend analysis of the following balance sheet for NORTHROP GRUMMAN

2019 as base year

Highlight and explain in details the key observations

CONSOLIDATED STATEMENTS OF FINANCLAL POSITION $ in millions, except par value Assets Cash and cash equivalents Accounts receivable, net Unbilled receivables, net Inventoried costs, net Prepaid expenses and other current assets Total current assets Property, plant and ecuipment, net of accumulated depreciation of $5,850 for 2019 and $5.369 for 2018 Operating lease right-of-ase assets Goodwill Intangible assets, net Deferred tax assets Other non-current assets Total assets L.iabilities Trade accounts payable Accrued employee compensation Advance payments and billings in excess of costs incurred Other current liabilities Total current liabilities Long-term debt, net of current portion of $1,109 for 2019 and $517 for 2018 Pension and other postretirement besefit plan liabalities Operating lease liabilitics Deferred tax liabalities Other non-current liabilities Total Iiabilities Commitmests and centingencies (Nete 12) Shareholders' equity Preferred stock, $1 par value; 10,000,000 shares authorired; no shares issued and cutstanding Common stock, $1 par valuc; 800,000,000 shares authorized; issued and outstanding: 2019167,848,424 and 2018 - 170,607,336 Paid-in capital Retained earnings Accunvalated other comprehensive loss Total shareholders' equity Total liabilities and shareholders' cquity CONSOLIDATFD STATEMEVTS OF FIVANCIAL POSITION Asets Cash and cash equivalene. Acsounts mexwable, fet Unbilled rocervables, act Ewerieried cevals, net Prepail experses and efler current asefa Tetal current aisets Foperfo, plam and equipmet, net of accumalatod d;preciation ef 55.850 for 2019 and 35.360 for 201k Gperating lease niphitof ase waets Guotwit latingile ancta nat Defend tas asts Cther non-sureat nasis Tetal avets 1.iateilities Trade accounts paydible Accrued employev cetterenurien Advance promend and billinge in exs of couts incurve Chine earteri liabinties Tetal currest liabilitics Peasion ans ober potretictern beneff plan liabinwes Operating le aie habilities Defernd tas iabilities Quher nos sweret lisbilities Jetal liakincies Ceamitmonis and reatingesin (Neis 12) Sharehalders" cyuify Reit in sapial Retaind sarning: Accimulaied ether combretwive las Tetal sharebalders' equaty Tatal liatillies and aharehelders' syuily CONSOLIDATED STATEMENTS OF FINANCLAL POSITION $ in millions, except par value Assets Cash and cash equivalents Accounts receivable, net Unbilled receivables, net Inventoried costs, net Prepaid expenses and other current assets Total current assets Property, plant and ecuipment, net of accumulated depreciation of $5,850 for 2019 and $5.369 for 2018 Operating lease right-of-ase assets Goodwill Intangible assets, net Deferred tax assets Other non-current assets Total assets L.iabilities Trade accounts payable Accrued employee compensation Advance payments and billings in excess of costs incurred Other current liabilities Total current liabilities Long-term debt, net of current portion of $1,109 for 2019 and $517 for 2018 Pension and other postretirement besefit plan liabalities Operating lease liabilitics Deferred tax liabalities Other non-current liabilities Total Iiabilities Commitmests and centingencies (Nete 12) Shareholders' equity Preferred stock, $1 par value; 10,000,000 shares authorired; no shares issued and cutstanding Common stock, $1 par valuc; 800,000,000 shares authorized; issued and outstanding: 2019167,848,424 and 2018 - 170,607,336 Paid-in capital Retained earnings Accunvalated other comprehensive loss Total shareholders' equity Total liabilities and shareholders' cquity CONSOLIDATFD STATEMEVTS OF FIVANCIAL POSITION Asets Cash and cash equivalene. Acsounts mexwable, fet Unbilled rocervables, act Ewerieried cevals, net Prepail experses and efler current asefa Tetal current aisets Foperfo, plam and equipmet, net of accumalatod d;preciation ef 55.850 for 2019 and 35.360 for 201k Gperating lease niphitof ase waets Guotwit latingile ancta nat Defend tas asts Cther non-sureat nasis Tetal avets 1.iateilities Trade accounts paydible Accrued employev cetterenurien Advance promend and billinge in exs of couts incurve Chine earteri liabinties Tetal currest liabilitics Peasion ans ober potretictern beneff plan liabinwes Operating le aie habilities Defernd tas iabilities Quher nos sweret lisbilities Jetal liakincies Ceamitmonis and reatingesin (Neis 12) Sharehalders" cyuify Reit in sapial Retaind sarning: Accimulaied ether combretwive las Tetal sharebalders' equaty Tatal liatillies and aharehelders' syuily