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Prepare the balance sheet (with a proper heading) for 2018. (Enter all amounts in millions. Classify the balance sheet by selecting the proper title on
Prepare the balance sheet (with a proper heading) for 2018. (Enter all amounts in millions. Classify the balance sheet by selecting the proper title on all applicable subtotal lines. In the first part complete the assets section of the balance sheet. In the second part complete the liabilities and stockholders' equity section of the balance sheet. Classify the balance sheet by selecting the proper title on all applicable subtotal or total lines. If a box is not used in the table leave the box empty; do not select a label or enter a zero.)
During 2018, Anton Company earned revenues of $148 million. A (Click the icon to view additional information.) Read the requirements De . X More Info Assets (millions) Current assets: Cash $ 160 Accounts receivable 65 Anton incurred, during that same year, salary expense of $25 million, rent expense of $25 million, and utilities expense of $17 million. Anton declared and paid dividends of $19 million during the year. At December 31, 2018, Anton had cash of $160 million, accounts receivable of $65 million, property and equipment of $39 million, and other long-term assets of $20 million. At December 31, 2018, the company owed accounts payable of $65 million and had a long-term note payable of $27 million. Anton began 2018 with a balance in retained earnings of $77 million. At December 31, 2018, Anton had total stockholders' equity of $192 million, which consisted of common stock and retained earnings. Anton has a year-end of December 31 Total current assets 225 39 Property and equipment Other long-term assets 20 Print Done 284 Total assets 284 Total liabilities and stockholders' equity Choose from any list or enter any number in the input fields and then click Check Answer. All parts showing Clear All Check Answer W E1-31A (similar to) During 2018, Anton Company earned revenues of $148 million. (Click the icon to view additional information.) Read the requirements. (in millions) Assets Current assets: Cash Accounts receivable 65 INIO December 31, 2018 (millions) Liabilities Current liabilities: 160 Accounts payable 65 Total current liabilities Long-term notes payable Total liabilities 225 Stockholders' equity 39 Common stock 20 Retained earnings Total stockholders' equity $ 284 Total liabilities and stockholders' equity 92 Total current assets Property and equipment Other long-term assets 192 Total assets 284Step by Step Solution
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