Presented below are condensed financial statements adapted from those of two actual companies competing as the primary players in a specialty area of the food manufacturing and distribution industry. ($ in millions, except per share amounts.) Balance Sheets Book Metropolitan Republic Assets erences Cash $ 298.3 $ 43.6 Accounts receivable (net) 528.7 434.0 Short-term investments 8.7 Inventory 578.4 736.2 Prepaid expenses and other current assets 236.6 592.7 Current assets $ 1, 642.0 $ 1, 815.3 Property, plant, and equipment (net) 2, 718.2 2,765.6 Intangibles and other assets 316.3 622.5 Total assets $ 4, 676.5 $ 5, 203.4 Liabilities and Shareholders' Equity Accounts payable $ 594.9 $ 800.2 Short-term notes 327 .1 663.4 Accruals and other current liabilities 699.2 634.5 Current liabilities $ 1, 621.2 $ 2,098 .1 Long-term debt 664.6 670.3 Deferred tax liability 491.6 721.7 Other long-term liabilities 234.0 214.1 Total liabilities $ 3,011.4 $ 3,704.2 Common stock (par and additional paid-in capital) 245.9 457 .0 Retained earnings 2,583.9 1, 709.9 Less: Treasury stock (1, 164.7) (667.7) Total liabilities and shareholders' equity $ 4, 676 .5 $ 5.203.4