probGuid-ONAPCA001000000401 178100500008kom 1519950317642 AAA68D30161D3289 2. Balance sheet Aa Aa The balance sheet provides a snapshot of the financial condition of a company. Investors and analysts use the information given on the balance sheet and other financial statements to make several interpretations regarding the company's financial condition and Cute Camel Woodcraft Company is a hypothetical company. Suppose it has the following balance sheet items reported at the end of its first year of operation. For the second year, some parts are still incomplete. Use the inforiation given to complete the balance sheet Cute Camel Woodcraft Company Balance Sheet for Year Ending December 31 (Millions of Dollars) Year 2 Year 1 Year 2 Year 1 Assets Current assets: Liabilities and equity Current liabilities Cash and equivalents Accounts receivable $2,952 Accounts payable $0 188 1,062 so 1,350 3,960 1,080 Accruals 3,168 Notes payable 1,000 $1,000 ,000 4,000 Total current assets $9,000 $7,200 Total current liabilities Net fixed assets Long-term debt Total debt 3,750 $5,000 Net plant and equipment $8,800 Common equity: Common stock Retained earnings 9,750 7,800 4,200 15,000$12.000 20,000$16,000 Total common equity Total liabilities and equity Total assets $20,000 $16,000