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Required: Prepare a complete Classified Balance Sheet at December 31, 2016 in good form. You will need to use the information provided to find the
Required: Prepare a complete Classified Balance Sheet at December 31, 2016 in good form. You will need to use the information provided to find the missing data. Please include (on a separate tab in excel) any calculations necessary to find the missing data Information: The following excerpt of balance sheet information in $ millions) comes from the Annual Report to Shareholders of Merry International Inc. for the 2016 fiscal year. Certain amounts have been replaced with question marks to test your understanding of balance sheets. In addition, you are provided with the following information from an analysis of Merry's financial position at the same date: Current ratio = 1.352259; Acid-test ratio = 0.5769692; Debt to equity ratio = 4.6675078; $450 of the Other Assets are current. $505 Cash and equivalents Accounts and notes receivable Inventory Other Assets Property and Equipment, net Intangible Assets, net Investments Notes and other receivables, net Accounts payable Accured payroll and benefits Other payables and accurals Long term debt Other long term liabilities Common stock Additional paid in capital Retained Earnings Treasury Stock Total liabilities and equity 1,587 1,307 1,643 250 1,264 634 692 1,175 634 2,206 5 3,644 3,286 5,350 8,983
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