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Required: Based on the Information in the table below, prepare comparative balance sheets for Windswept Woodworks, Incorporated for years 1 and 2. (Round your answers
Required: Based on the Information in the table below, prepare comparative balance sheets for Windswept Woodworks, Incorporated for years 1 and 2. (Round your answers to the nearest whole number.) Year 1 474 920 6,722 218 1,210 n.a. Accounts payable Accounts receivable Accumulated depreciation Cash & equivalents Common stock cost of goods sold Depreciation expense Common stock dividends paid Interest expense Inventory Addition to retained earnings Long-term debt Notes payable Gross plant & equipment Retained earnings Sales other current liabilities Tax rate Market price per share - year end Number of shares outstanding windswept Woodworks, Incorporated Input Data (millions of dollars) Year 2 542 1,386 6,852 33e 1,290 1,510 ? ? 152 1,120 682 918 242 10,380 3,168 3,828 126 21% $ 19.80 500 million n.a. 1,116 n.a. 826 390 10,040 2,566 n.a. 106 n.a. $17.50 500 million Assets Year 2 Year 1 Current assets Cash & equivalents Accounts receivable Inventory Total current assets Windswept Woodworks, Incorporated Comparative Balance Sheets for December 31, Year 1 and Year 2 (millions of dollars) Liabilities and Equity Year 1 Year 2 Liabilities Accounts payable Notes payable Other current liabilities Total current liabilities Long-term debt Total liabilities Owners' equity Common stock Retained earnings Total equity Total liabilities and equity Fixed assets Gross plant & equipment Accumulated depreciation Net plant and equipment Total assets
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