Requirement 3. Prepare the balance sheet (with a proper heading) for 2018. (Enter all amounts in millions. Classify the balance sheet by selecting the proper title on all applicable subtotal lines. In the first part complete the assets section of the balance sheet. In the second part complete the liabilities and stockholders' equity section of the balance sheet. Classify the balance sheet by selecting the proper title on all applicable subtotal or total lines. If a box is not used in the table leave the box empty; do not select a label or enter a zero.) Victor Company X i More Info Balance Sheet December 31, 2018 Assets (millions) Current assets: Cash $ 145 Victor incurred, during that same year, salary expense of $31 million, rent expense of $15 million, and utilities expense of $20 million. Victor declared and paid dividends of $10 million during the year. At December 31, 2018, Victor had cash of $145 million, accounts receivable of $75 million, property and equipment of $41 million, and other long-term assets of $21 million. At December 31, 2018, the company owed accounts payable of $62 million and had a long-term note payable of $34 million. Victor began 2018 with a balance in retained earnings $70 million. ber 31, 2018, Victor had tal stockholders' equity of $186 million, which consisted of common stock and retained earnings. Victor has a year-end of December 31. Accounts receivable 75 Total current assets Print Done Total assets Choose from any list or enter any number in the input fields and then click Check Answer. Requirement 3. Prepare the balance sheet (with a proper heading) for 2018. (Enter all amounts in millions. Classify the balance sheet by selecting the proper title on all applicable subtotal lines. In the first part complete the assets section of the balance sheet. In the second part complete the liabilities and stockholders' equity section of the balance sheet. Classify the balance sheet by selecting the proper title on all applicable subtotal or total lines. If a box is not used in the table leave the box empty; do not select a label or enter a zero.) Victor Company X i More Info Balance Sheet December 31, 2018 Assets (millions) Current assets: Cash $ 145 Victor incurred, during that same year, salary expense of $31 million, rent expense of $15 million, and utilities expense of $20 million. Victor declared and paid dividends of $10 million during the year. At December 31, 2018, Victor had cash of $145 million, accounts receivable of $75 million, property and equipment of $41 million, and other long-term assets of $21 million. At December 31, 2018, the company owed accounts payable of $62 million and had a long-term note payable of $34 million. Victor began 2018 with a balance in retained earnings $70 million. ber 31, 2018, Victor had tal stockholders' equity of $186 million, which consisted of common stock and retained earnings. Victor has a year-end of December 31. Accounts receivable 75 Total current assets Print Done Total assets Choose from any list or enter any number in the input fields and then click Check
