Required information The following information was taken from the financial statements of C Co for the years 20X2 and 20X1: Statement of Earnings 20X2 Net operating revenues $19,805 20X1 $18,813 Cost of goods sold 6,009 5,562 Gross profit 13,796 13,251 Selling, administrative and general expenses 9,001 8,211 Other operating charges 813 73 Operating profit 3,982 4,967 Other revenues (expenses) including interest expense $337 million in 20X2 and $277 million in 20X1 (163) 231 Profit before taxes 3,819 5,198 Income tax expense (tax rate 36.3% in 20X2) 1,388 1,665 Profit 2,431 3,533 Statement of Financial Position 20X2 20X1 Cash and cash equivalents $1,611 $1,648 Marketable securities: 201 159 Trade receivables, net 1,798 1,666 Inventories: 1,076 890 Prepaid expenses and other assets 1.794 2.017 Total current assets 6,480 6,380 Equity method investments 6,442 6,291 Cost method investments 350 395 Marketable securities and other investments 2.124 1.863 Total investment assets 8,916 8,549 Property, plant and equipment, net 4,267 3,669 Goodwill and other intangible assets 1,960 547 Total assets Current liabilities Long-term debt $21,623 $19.145 9,856 8,640 854 687