Required: a. Enter the beginning (July 31, 2016) and ending (July 30, 2017) account balances for Accounts Receivable, Inventories, and Payable to Suppliers and Others. Find these amounts on the balance sheet for Campbell Soup Company. b. From the consolidated statement for Campbell Soup Company for the year ended July 30, 2017, record the following transactions in the model: 1. Net Sales, assuming that all sales were made on account. 2. Cost of Products Sold, assuming that all costs were transferred from inventories. 3. Marketing, Selling, and Administrative Expenses, assuming all of these expenses were accrued in the Payable to Suppliers and Others liability category as they were incurred. c. Assuming that the only other transactions affecting these balance sheet accounts were those described next, calculate the amount of each transaction: 1. Purchases of inventories on account. 2. Collections of accounts receivable. 3. Payments to suppliers and others. (Enter your answers in millions of dollars. Enter decreases with a minus sign to indicate a negative financial statement effect.) Revenues Cash and Cash Equivalents Assets Liabilities Accounts Payable to Receivable, Inventories Suppliers and net Others Expenses Marketing, Cost of Products Sold Selling, and Administrative Net Sales a Beginning balance b-1. Net sales b-2. Cost of products sold b-3. Marketing, selling and administrative expenses C-1 Purchases of inventories on account c-2. Collections of accounts receivable C-3. Payments to suppliers and others a. Ending balance $ 0 $ 0 $ 0 CAMPBELL SOUP COMPANY Consolidated Balance Sheets (millions, except per share amounts) July 30, 2017 July 31, 2016 $ 319 $ 605 902 74 1,900 2,454 2,115 1,118 139 7,726 S 296 626 940 46 1,908 2,407 2,263 1,152 107 S 7,837 1,219 610 604 100 22 Current assets Cash and cash equivalents Accounts receivable, net Inventories Other current assets Total current assets. Plant assets, net of depreciation Goodwill.. Other intangible assets, net of amortization Other assets ($51 as of 2017 and $34 as of 2016 attributable to variable interest entity) Total assets. Current liabilities Short-term borrowings. Payable to suppliers and others Accrued liabilities Dividends payable Accrued income taxes Total current liabilities. Long-term debt Deferred taxes. Other liabilities Total liabilities. Commitments and contingencies Campbell Soup Company shareholders' equity Preferred stock; authorized 40 shares: none issued. Capital stock, 5.0375 par value; authorized 560 shares; issued 323 shares. Additional paid-in capital. . Earnings retained in the business. Capital stock in treasury, at cost. Accumulated other comprehensive loss. Total Campbell Soup Company shareholders' equity. Noncontrolling interests Total equity.. Total liabilities and equity 1,037 $ 666 561 111 20 2,395 2,499 490 697 6,081 2,555 2,314 396 1,039 6,304 12 359 2,385 (1,066) (53) 1,637 8 1,645 7,726 $ 12 354 1,927 (664) (104) 1,525 8 1,533 7,837 See accompanying Notes to Consolidated Financial Statements. CAMPBELL SOUP COMPANY Consolidated Statements of Earnings (millions, except per share amounts) 2017 2016 2015 7,890 $ 7,961 $ 8,082 4,831 5,181 893 817 5,300 884 601 641 488 98 124 117 238 131 24 18 31 102 6,490 1,400 7,001 960 7,028 1,054 112 115 108 5 4 3 Net sales.. Costs and expenses Cost of products sold Marketing and selling expenses. Administrative expenses. Research and development expenses. Other expenses / income) Restructuring charges.. Total costs and expenses. Earnings before interest and taxes Interest expense. Interest income Earnings before taxes Taxes on earnings.. Net earnings Less: Net earnings (loss) attributable to noncontrolling interests Net earnings attributable to Campbell Soup Company. Per Share Basic Net earnings attributable to Campbell Soup Company. Weighted average shares outstanding basic Per Share Assuming Dilution Net earnings attributable to Campbell Soup Company. Weighted average shares outstanding assuming dilution 1,293 849 949 406 286 283 887 563 666 887 $ 563 $ 666 2.91 $ 1.82 $ 2.13 305 309 312 2.89 $ 1.81 $ 2.13 307 311 313 See accompanying Notes to Consolidated Financial Statements