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Ramakrishnan, Inc., reported 2021 net income of $80 million and depreciation of $3,300,000. The top part of Ramakrishnan, Inc.s, 2021 and 2020 balance sheets is
Ramakrishnan, Inc., reported 2021 net income of $80 million and depreciation of $3,300,000. The top part of Ramakrishnan, Inc.s, 2021 and 2020 balance sheets is reproduced below (in millions of dollars): 2021 2020 2021 2020 Current assets: Current liabilities: Cash and marketable securities $ 85 $ 24 Accrued wages and taxes $ 43 $ 33 Accounts receivable 94 90 Accounts payable 58 50 Inventory 234 140 Notes payable 50 45 Total $ 413 $ 254 Total $ 151 $ 128
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