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Question 2 Suppose the following items were taken from the 2017 financial statements of Swifty Corporation. (All dollars are in millions.) Common stock $2,790 $3,720
Question 2 Suppose the following items were taken from the 2017 financial statements of Swifty Corporation. (All dollars are in millions.) Common stock $2,790 $3,720 Accumulated depreciation- equipment Accounts payable 165 1,780 2,490 6,710 Patents 660 Notes payable (long-term) 960 Prepaid rent Equipment Stock investments (long- term) Debt investments (short- term) Income taxes payable Cash 1,880 Retained earnings 6,745 150 Accounts receivable 1,750 1,150 1,340 Inventory Prepare a classified balance sheet in good form as of December 31, 2017. (List current assets in order of liquidity.) Prepare a classified balance sheet in good form as of December 31, 2017. (List current assets in order of liquidity.) Swifty Corporation Balance Sheet (in millions) Assets $ $ $ Liabilities and Stockholders' Equity $ $
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